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

By Joy Dumasia

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.