LONDON--(BUSINESS WIRE)--Marqeta, the first global modern card issuing platform has announced a new partnership with Mambu, the leading provider of cloud banking services. The partnership provides Mambu’s customers with access to Marqeta’s card processing technology, uniting two companies with strong commitments to delivering transparency and control through open APIs, as well as rapid speed to market by putting customers in control of the development process.
Mambu’s cloud banking platform is already used by banking pioneers like N26, OakNorth and ABN AMRO’s New10. It enables the customers to build out a highly configurable core platform by allowing them to easily integrate with a pre-selected range of best-for-purpose partners. This approach allows companies to strip back on development and integration resources, so they can concentrate on what they specialise in: building a first-class customer proposition and marketing it.
Mambu’s ethos resonates firmly with Marqeta whose modern card issuing platform puts the customer firmly in control by providing access to over 280 APIs on its website as well as an open sandbox environment. Customers can experience the power of Marqeta’s processing platform by signing up to the sandbox within moments and then building and testing card functionality. With Marqeta, the only constraints to launching a card programme are the speed at which they can develop at.
“Mambu is providing a world class platform addressing key challenges around how to continually deliver and accelerate innovation in the payments space without consistently being restrained by technology,” said Ian Johnson, Head of European Growth at Marqeta. “There’s a strong alignment between our two organisations, not just in terms of our product vision but culturally too. We are very excited by the power of our joint proposition and the significant benefits customers will derive from it.”
“Mambu is focused on creating a rich ecosystem of payment pioneers, providing our customers with fast and easy access to services that allow them to create compelling products for their end-customers,” said Ben Goldin, Chief Technology & Product Officer at Mambu. “We are delighted to welcome Marqeta into this ecosystem and see them being a valuable partner in allowing our customers to rapidly drive innovation with their card product portfolio.”
Marqeta is the global standard for modern card issuing, providing the most advanced infrastructure and tools for building highly configurable payment cards. With its open API, the Marqeta platform is designed for innovators who want a simplified way of managing payment programs so that they can create world-class experiences and power new modes of commerce. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.
Mambu was launched in 2011 with the vision to enable access to modern financial services for all. We make this possible by providing a modern cloud-native banking platform that not only competes with core products from traditional players, but changes the market through our composable banking approach. We’re bringing SaaS to banking at a time when it’s needed the most. Our customers range from top tier banks like ABN AMRO and Santander, to leading venture-backed fintechs like N26 and OakNorth to telcos like Globe Telecom. We enable them to build a modern banking or lending offering, in the cloud, by composing a best-for-purpose solution for their needs which is an order of magnitude more agile and cost-effective than the legacy approach to core banking. As a result, we’re taking on the $250B market of banking technology worldwide. We’re currently a team of over 200 people spread between our main offices in Amsterdam, Berlin, Singapore, London, Iași (Romania) and Miami servicing over 150 customers with over 18M end users in over 45 countries. We’ve raised over €42M to date with the latest round led by Bessemer Venture Capital in San Francisco. For more information, visit www.mambu.com, Twitter and LinkedIn.