back Back

Indonesian digital bank selects Mambu’s SaaS banking platform as its foundation

By Leandra Monteiro

June 03, 2021

  • Indonesia
  • Indonesian
Share

Bank Jago, Mambu’s, SaaS, banking platform, digital bank, Google CloudPT Bank Jago Tbk (Bank Jago), an Indonesia-listed digital bank, has selected Mambu’s SaaS banking platform as its technology foundation as the bank begins its journey towards operating as a technology-based bank. Mambu’s flexible and responsive financial services platform will underpin Bank Jago’s service offerings, which will initially include everyday transactions and payments, with plans to branch out into SME lending.

Bank Jago is the first organization to benefit from the recently announced global partnership between Mambu and Google Cloud, which allows banks and financial institutions in countries like Indonesia, where banking data must remain ‘in country’, to operate in the cloud.

Myles Bertrand, Managing Director, APAC at Mambu said, “We’re excited to bring our composable banking approach to Indonesia and to work with Bank Jago, our first customer in the country. Now that our partner Google Cloud has made cloud banking a reality in Indonesia with the establishment of their Jakarta Cloud Region, we expect to see great progress locally in a very short space of time. According to the World Bank, less than half of all Indonesian adults currently have a bank account, so we believe Bank Jago’s digital offerings will help to enhance financial inclusion within the region.”

Megawaty Khie, Country Director for Google Cloud in Indonesia added, “Customers now expect an on-demand experience from their bank that is automated, seamless, and very easy-to-use. As Indonesia’s first fully digital bank, Bank Jago is leading the way by embracing the cloud and building its core banking systems on Mambu hosted in Google Cloud. We are thrilled to be Bank Jago’s partner in this journey.”

“We are very pleased to have Mambu’s leading SaaS banking platform on board. Creating a core banking system that is compatible with tech-based bank specifications is a breakthrough concept in Indonesia, and I believe that Mambu’s technology will enable us to achieve our goals, with efficient operating models and the ability to be more adaptive towards our customers’ needs. I believe the Mambu platform will become our competitive advantage,” said President Director Bank Jago Kharim Siregar.

“With an experienced team, we have a clear idea of what works in the Indonesian market. Setting up Bank Jago as a technology-based bank marks our first step to enhance the growth of our customers, employees, shareholders, investors, communities and the middle and mass market segments in Indonesia. Mambu’s cloud banking platform and its partnership with Google Cloud offer the core banking solution that we are looking for and will allow us to focus on offering flexible cloud-based banking services,” Kharim added.

Previous Article

June 03, 2021

Paypal invests $135 mn in FIs that serve black and underserved communities

Read More
Next Article

June 03, 2021

Rapyd launches Rapyd Ventures; an investment arm to propel digital commerce and payment Innovation

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 11, 2024

Arta Finance launches globally via Singapore & unveils Arta AI Copilot

Read More

October 11, 2024

UPI Transactions Jump 52% Fuelling India’s Digital Payment Boom

Read More

October 11, 2024

ClearBank onboards first clients to T2 European payments system

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More