Mambu is a SaaS, cloud-native, API-driven, banking and financial services platform. It is designed to power financial innovation, bring solutions to market faster, drive down cost barriers and allow ecosystems to expand.
Adopting an API-enabled approach allows different software applications to communicate with one another, enabling businesses to collaborate and innovate together. PwC builds banking technology that allows organisations to significantly improve performance across a range of key measures.
This includes tackling complex customer journeys such as advanced Customer Relationship Management (CRM), Know Your Customer (KYC), Credit Decisioning and in life account and loan servicing across a number of areas such as mortgages, savings and corporate lending.
PwC is now able to quickly build new digital journeys and end to end business propositions via a modern, low-cost and customer centric digital lending platform. This in turn will help the firm’s clients transform their customer-facing operations and enhance products and services to meet the speed and multi-channel expectations demanded in today’s world.
Legacy core banking platforms are increasingly a pain point across the Financial Services (FS) industry. Legacy estates are a drag on cost, resilience and change agility. UK banks are likely to spend £1-2billion over the next three years on resiliency alone.
Despite the considerable investments made in transformation, banks remain challenged by issues such as platform complexity, lack of key skills and difficulties in identifying an effective approach to risk management. We are also seeing a greater number of new risks and increased regulatory scrutiny as a result of data migrations at scale and with the heightened use of public cloud platforms.
Our new paper, written in conjunction with Mambu, proposes a different approach to managing legacy transformation that advises:
“Transforming the legacy estate is the biggest challenge facing banking CIOs today. We have worked closely with our partner Mambu and our clients to develop this point of view. It provides an insight into what is happening across the sector, but more importantly provides a roadmap for CIOs to use when defining their transformation plans”
Mambu is the cloud-native core banking platform where modern financial experiences are built. Launched in 2011, Mambu fast tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Their unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu supports hundreds of customers in over 65 countries.
With innovation making Banks’ new lending propositions readily accessible, fast and affordable, a wave of change will sweep across the lending market. In this article, we have modelled the financial performance of a new unsecured lending business, through use of a composable architecture, to bring to life the potential returns associated with taking a more innovative approach.
Becoming a digital bank is hard. Sustaining a successful digital bank is even harder. However, as the world’s leading “neobanks” start to make their core technology available for broader consumption, could things be about to change?
Why banks must assess their strategies in the context of ESG to transform and reaffirm their purpose
Partner, Cloud and Digital Transformation Lead, PwC United Kingdom
Tel: +44 (0)7590 351933
