Raisin Bank launches BaaS services on Mambu

By Joy Dumasia

Raisin Bank, the company-owned servicing bank of FinTech Raisin DS, has publicly launched its Banking-as-a-Service (BaaS) offering using Mambu‘s SaaS cloud banking platform. All of Raisin Bank’s existing customers have been migrated to the Mambu platform. They can now leverage state-of-the-art digital solutions for business models that require a banking licence.

This move makes Raisin Bank, founded in 1973, one of the first German cloud banks. Since its acquisition by Raisin DS in 2019, the bank has focused on offering the most advanced digital solutions in account management, payments and lending for financial vendors and start-ups. In the last two years, Raisin Bank has established itself as a leading European BaaS provider, with a German banking license passported in every country in the European Union.

By building with Mambu, Raisin Bank has the flexibility to swap out components as required, avoiding vendor lock-in and wholesale re-platforming. The bank has additionally created its architecture on top of Mambu, developing interfaces for embedded banking solutions and automating previously complex processes for more efficient customer onboarding, credit decisions, repayments and real-time notifications.

Raisin Bank offers BaaS products for platforms and ecosystems and utilizes them within Raisin DS for all banking operations. This means that customers profit directly from the improvements of the Raisin DS integration. With Mambu, the bank has future-proofed its IT stack. As an API-first and cloud-native platform, Mambu aligns with Raisin Bank’s customer-first philosophy, empowering the bank to create transparent, real-time customer experiences for their partners’ business models.

Andreas Wolf, Chief Commercial Officer at Raisin Bank, said: “Migrating all of our services to Mambu’s platform enables us to add real value to our many partners and clients as well as to Raisin DS. For our continued growth as a Banking-as-a-Service provider, we now have one of the most modern and agile IT platforms among European banks. With Mambu, we have multiplied the speed with which we can scale processes and develop new applications. This step positions us to meet the rapidly increasing demand for digital banking solutions.”