The trend of fintech moving to Google Cloud

Mambu, the leading SaaS cloud banking platform, has officially announced its presence on the Google Cloud Marketplace. This opens up opportunities for many fintechs, digital banks, traditional banks, and other non-financial institutions to adopt cloud technology into their operations.

The announcement follows an expansion of Mambu’s partnership with Google Cloud, which will enable the fintech to expand its reach and provide core banking services globally. By being available on the Google Cloud Marketplace, Mambu will provide their mutual customers with access to a secure and scalable platform, and open up opportunities for easy access to new markets. In particular, Mambu’s availability on the Google Cloud Marketplace will help reduce the time to market for new financial products.

By being on the Google Cloud Marketplace, Mambu gives our mutual customers access to a more scalable and secure platform.

The partnership comes as traditional financial institutions will see profits fall by 20 to 60 percent by 2025 if they fail to evolve digitally, according to research from consulting firm McKinsey. Many financial institutions are now rethinking their entire banking technology platforms, with many already moving to the cloud.

According to a Google Cloud study, 88% agree that adopting cloud technology can help adapt to changing customer behaviors and expectations, improve operational agility, and support the creation of new products and services.

Mr. Pham Quang Minh, General Director of Mambu Vietnam, said: "Traditional banks were 'built to last', but today, banks need to be built to change. As a SaaS cloud banking platform, Mambu manages the entire Core Banking technology infrastructure of customers in the cloud. The strategic partnership with Google Cloud has given us better control over costs, performance, security and scalability, which are the benefits we will convey to our customers. Joining the Google Cloud Marketplace is part of Mambu's global partnership expansion strategy, allowing us to reach more financial institutions, looking to bring solutions to market faster and with more flexibility. We look forward to working with Google Cloud in reaching the market and together providing a modern core banking system that meets the requirements of modernization".

Toby Brown, Global Head of Banking Solutions at Google Cloud, said: “It is critical for banks to adopt new core banking technology to stay competitive. The partnership between Mambu and Google Cloud enables the company to open new markets, expand its global customer base by leveraging scalable and reliable cloud technology, and collaborate on common business strategies. We are excited to work with Mambu as they help many financial institutions build authentic customer experiences.”

Among the joint customers are Bob Finance, a Zurich-based digital financial services provider; Bank Jago, a publicly traded bank in Indonesia; and Libertad Soluciones de Vida, a microfinance institution in Mexico, all leveraging Mambu’s cloud banking platform on Google Cloud. The powerful combination of Mambu and Google Cloud will address the need for convenient digital banking services and financial experiences on a global scale.

Tra Khanh

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