BridgeFund Selects Mambu’s Cloud Banking Platform
- Overview:
- Amsterdam-based BridgeFund partners with Mambu to scale its SME lending operations.
- Objectives:
- Replace BridgeFund’s in-house-built core banking system not designed for large-scale expansion.
- Leverage Mambu to expand account volumes and product offerings.
- Facilitate expansion into new markets.
- Company Background:
- Founded in 2018.
- Facilitates peer-to-peer financing between merchants.
- Issued over 6,500 loans worth more than €300 million.
- Implementation:
- Mambu’s quick time-to-market enabled BridgeFund to go online with deposits in six months.
- Currently working on integrating lending operations.
- Market Demand:
- Mambu’s platform is in high demand.
- Brunswick Credit Union in Canada also transitioning to Mambu’s cloud banking solution.
Key Points
- Partnership Rationale:
- BridgeFund’s in-house system was insufficient for large-scale growth.
- Mambu offers a scalable cloud banking solution.
- Expansion Goals:
- BridgeFund aims to increase product offerings and enter new markets using Mambu’s platform.
- Implementation Timeline:
- Deposits went online in six months.
- Lending integration is ongoing.
- Market Trends:
- Mambu is increasingly chosen by financial institutions for its robust cloud banking solutions.
- Brunswick Credit Union’s recent transition underscores Mambu’s growing market presence.
