- Strategic Partnership: Aldermore Bank has entered into a strategic partnership with cloud banking platform Mambu to modernize its technology.
- Bank Overview: Aldermore Bank, founded in 2009 and acquired by FirstRand in 2018, operates as a retail bank and specialist lender, offering various financial services.
- Objective: The partnership aims to provide a “differentiated experience” by utilizing Mambu’s Software-as-a-Service (SaaS) cloud banking platform.
- Technology Upgrade: Aldermore hopes to leverage Mambu’s platform for launching financial products and services at scale, achieving reliability, and accelerating time to market.
- Industry Landscape: Aldermore joins 18 regulated banks and 22 non-bank lenders and electronic money institutions in the UK that run on Mambu, including GB Bank, Tide, and Chetwood Financial.
- Previous Technology: Aldermore Bank previously used Temenos’ T24 Transact system for its core platform and Backbase’s Omnichannel Banking Platform for digital banking.
