Universo and Mambu partner to bring financial services to Portugal

By Joy Dumasia

Universo, a Portuguese financial services brand, has selected Mambu, the SaaS cloud banking platform, to bring more accessible and modern financial services to the market. Mambu’s composable approach enables Universo to innovate fast and deploy quickly, strengthening its position as a leader in financial services in Portugal.

Universo is Sonae Group’s financial services business line which aims to transform the way families and small businesses manage finances through simple and innovative financial solutions. Mambu will help Universo iterate products faster and expand its digital offering further. The brand has already developed and launched revolving loans for credit cards and fixed-term loans to its one million customers.

Andy Cash, Regional Vice President of Mambu EMEA, said: “Mambu helps financial institutions launch any type of products and services quickly and cost-effectively. As part of our growing number of customers, Universo aims at better serving consumers by adding meaningful financial products to their portfolio. With Mambu, Universo is able to offer a hyper-personalised end-to-end financial experience, helping customers manage their money better. Both teams collaborated closely and have developed a secure and seamless product. Now that we’ve built the fundamentals and must-haves, we will continue scaling our solutions for credit cards.”

Carlos B. David, COO of Universo, commented: “Universo selected Mambu because of its flexible approach to building financial products. Customers’ needs are changing constantly, and they demand more financial solutions than ever before. Mambu’s team have proven to us that the design of their product will enable us to combine exactly the systems we needed to architect a great solution.”

Recently, IBS Intelligence reported that 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.