Mambu enters into a strategic partnership with Visa
By Joy Dumasia
Mambu, a leading cloud banking platform, announced a global partnership with Visa to utilise Visa DPS, one of the largest processors of Visa debit transactions globally. The partnership will give Mambu customers a seamless connection to Visa DPS for end-to-end card issuing and processing.
Both companies recognised the importance of interconnectivity to meet the growing demand for FinTechs and incumbent financial institutions. Mambu is developing an integration with Visa DPS that will give institutions more flexibility in offering their customers new card products and services.
Kevin Trilli, Chief Product Officer at Mambu, said: “Customer demand for card services is growing rapidly, whether it is incumbent financial institutions or FinTechs. Strategic partnerships and interoperability of service providers offer the best value, choice, and flexibility for clients, whether they are embarking on digital transformation or scaling a new card programme. This is a major step to bringing more simple, transparent and connected services to any company offering financial services.
We’re creating an opportunity for our customers to transform, scale and achieve operational excellence with this integration. Institutions can create their unique customer payment card experiences on Mambu, regardless of whether it is a deposit or loan account and get it rapidly to market. They can then leverage the issuer processing capabilities of Visa DPS to deploy new products and solutions for their customers. This partnership will enable our customers to create powerful, digital-first payment solutions and experiences.”
Todd Brockman, SVP, Global Head of Issuing Solutions at Visa, said: “Today’s banking and payment landscape requires agility and an architecture that can easily adapt to the rapid pace of innovation in our industry. We’re excited to bring our modern API-based processing capabilities to Mambu’s growing marketplace of composable payment solutions and believe our collaboration will create tremendous value for our clients and their cardholders.”
Recently, IBS Intelligence reported that Abu Dhabi Islamic Bank (ADIB) announced that it had signed an exclusive agreement with world leader in digital payments, Visa. This agreement aims to further grow digital payments in the UAE, offering customer-centric solutions to ADIB cardholders.
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