back Back

Western Union integrates Mambu into its new digital bank platform in Europe

By Joy Dumasia

June 09, 2022

  • Card Payments
  • Cloud Banking Platform
  • Cross Border Payments
Share

Mambu, the cloud banking platform, has teamed up with Western Union, a global leader in cross-border, cross-currency money movement and payments, to integrate its solution into the latter’s next-generation real-time multi-currency digital wallet and digital banking platform in Europe. 

Mambu will enable Western Union to extend its relationship with its customers and create a new banking experience. With its cloud-native platform, Mambu has 70 million daily users and over 230 banks and financial institutions as customers. 

Built on Mambu, Western Union’s digital banking app WU+ will bring together various features that make it easy to move money, manage cards and view transactions. Mambu gives Western Union full control to deploy new banking products and services that are easy to configure and integrate with external applications. In a single, native mobile app, customers can create a new account in minutes by selecting a subscription model and start saving and spending instantly. 

Thomas Mazzaferro, Chief Data & Innovation Officer at Western Union, said: “Our ambition is to provide market-leading financial solutions to our customers. By partnering with Mambu, we have built our digital banking products and services starting in Europe with Germany and Romania. The Mambu and Western Union team have come together in a truly collaborative partnership accelerating our financial service ambitions while building a product that can scale and is cloud agnostic.”

Western Union has a truly diversified omnichannel offering, bridging the digital and physical worlds with a global retail agent network consisting of hundreds of thousands of locations, combined with one of the largest cross-border, person-to-person digital global networks, reaching billions of bank accounts as well as millions of digital wallets and cards.

Eugene Danilkis, CEO and Co-Founder of Mambu, commented: “The industry has reached a tipping point for cloud adoption. Large financial institutions have started a global trend of moving to cloud-native, nimble tech stacks and are becoming part of the ecosystem. Western Union adopted the cloud because they recognised that FIs of the future need to engage their customers with excellent new products. We are looking forward to seeing Western Union wow their customers with modern and secure banking services.”

Recently, IBS Intelligence reported that Allica Bank, the FinTech challenger bank for established SMEs in the UK, announced their successful go-live on cloud banking platform, Mambu.

Previous Article

June 09, 2022

Klasha closes a $4.5m seed fundraise, with an additional $2m raise

Read More
Next Article

June 09, 2022

Plazo partners with Mambu to fuel the expansion of its innovative lending solutions

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Card Payments

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

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

July 17, 2024

SWiM PAY launches new instant digital payments feature

Read More

July 17, 2024

Mangopay & ManoMano simplify payments for marketplace sellers

Read More

July 17, 2024

TechFini secures NPCI approval to facilitate UPI-based payment solutions

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 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

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024