Georgia’s TBC Bank launches digital neobank Space
Georgia’s TBC Bank has unveiled its digital and autonomous neobank, Space.
“TBC, in a way, created its own competitor”
TBC says the fintech-inspired initiative was taken from concept to launch in eight months. Software-as-a-Service (SaaS) core banking engine Mambu is powering Space.
Space provides customers with a range of retail banking services including loans, saving products and payment cards.
“A year ago, several TBC team members decided to create a neobank that exists only as a mobile app, without branches and physical presence,” says Nika Kurdiani, Deputy CEO at TBC Bank. “TBC, in a way, created its own competitor. We think this challenge brings a new reality not only to TBC but also to the Georgian banking sector. It aims to change the way people access their daily financial services.”
Lasha Gurgenidze, project leader at Space, adds: “We put a special focus on differentiating by design, customer care, price transparency and instant service delivery. We are a fintech in every sense from people and processes, to our culture. The biggest advantage of our model is the ability to leverage the resources and experience of TBC Bank while operating independently.”
Gurgenidze adds that Mambu is API-driven which was “strategically important” for the integration of products and features and “that is the power of the right technology”.
This is Mambu’s first client in Georgia.
