UK challenger Aldermore Bank enters strategic partnership with Mambu
UK challenger Aldermore Bank has entered into a strategic partnership with cloud banking platform Mambu in a bid to modernise its technology.
Aldermore Bank in strategic partnership with Mambu
Founded in 2009 and acquired by South African financial services group FirstRand in 2018, Reading-based Aldermore Bank operates as a retail bank and specialist lender, providing personal and business savings accounts, as well as mortgages, business and motor financing.
By striking a partnership with Mambu, it hopes to provide a “differentiated experience” for its customers by leveraging the latter’s Software-as-a-Service (SaaS) cloud banking platform. Mambu claims it can help the bank launch financial products and services “at scale”, achieve reliability and an accelerated time to market, while evolving as per customer needs.
The challenger joins 18 fully regulated banks in the UK and 22 non-bank lenders and electronic money institutions (EMIs), such as GB Bank, Tide, Chetwood Financial, which run on Mambu.
As earlier reported by FinTech Futures, Aldermore Bank was utilising Temenos’ T24 Transact system for its core platform, and Backbase’s Omnichannel Banking Platform for digital banking.
