Mambu, the cloud native banking platform

I have used Mambu  for the Greenfield implementation of a digital bank called Uno Bank, where I am working as a system integrator for that program. Mambu  is one of the core banking systems that we are using. We have implemented the cloud-native core banking Mambu shared services, which was integrated with the front end, Backbase , and other integrations with the payments and card systems.

We have launched in a sequential manner, initially configuring it for the deposit module where CASA and fixed deposit products as well as group savings have been involved. Lately, we have also used Mambu for mortgages, and I found that Mambu is a very quick configurable product which helps us to perform quick configuration and achieve rapid time to market for new products.

Mambu offers very valid configurable features where we can configure different kinds of products that we can launch to market, including current accounts, savings accounts, family banking products, as well as split and pay features, which are very useful and easily available.

The split and pay feature is very unique, especially in the Philippines market where multiple people can go to a café or restaurant, order different things, and need their payments divided among individuals. This was very easy to configure in Mambu, where you can give them the option to select and split the bills as well as the option to pay the bills directly, which integrates with the core banking Mambu.

Regarding features, Mambu is easy to use and quickly adaptable by the team, so you do not spend too much time progressing through implementation the way you would with Thought Machine  or others where you have to do programming. Mambu is a very configurable core banking product where you have to do the configuration and some out-of-the-box products are easily available which can be used to quickly make the go-to-market features available for the bank.

As a system integrator, Mambu has impacted our business significantly and generated substantial revenue because we were able to make it a core banking solution which is the heart of any bank. We were able to launch the digital bank within the span of nine months, which was a great achievement, and now that bank is catering to the entire APAC market. It has also provided a referral point for us where we can take it forward for US banks and other banking scenarios.

Mambu can be improved if it can keep up with current market trends and introduce innovative products, such as Buy Now, Pay Later features, which are not available out of the box at this moment.

Mambu has a good API available that can easily connect to third-party integrations. However, if they can integrate themselves and come up with front-end solutions, such as Backbase  or i-exceed, along with AWS , Azure , and other cloud partners, it will help us to be more adaptive and scalable, covering a broader market.

Mambu needs to focus more on customer orientation. If they can provide self-guided learning materials for people to learn how to configure and use Mambu, it will be a great help.

I have used Mambu for almost three years.

I have interacted with Mambu's support team and have a good relationship with their customer success managers who are really helpful.

Neutral

Earlier, we were using traditional core banking systems such as Oracle Financials, Temenos  T24, and Finacle  in TCS  banks. These legacy core banking systems required a lot of time for small changes and tweaking, involving lengthy change request cycles, which were time-consuming and costly. This is why we switched to Mambu.

Mambu enables faster time to market for new products. We were able to launch the new CASA product within nine months, and we were able to acquire more than thirty percent of the customer acquisition through Mambu. This new feature has given an adoption rate of almost thirty-five percent. In terms of maintenance and costs, since it is a cloud-native solution on shared cloud services, it has reduced our operational costs by approximately fifty to sixty percent.

The return on investment is quite high because, with Mambu's help, we were able to launch the cloud-native core banking digital bank very quickly in the Philippines market. The entire digital bank setup, along with integrations with the payment gateways and front-end core banking, took only nine months to launch our CASA product. This definitely provides a good return on investment, allowing us to save a lot of money compared to other market competitors, such as Thought Machine  or Temenos .

Mambu is good for startups and neobanks. The pricing, setup costs, and licensing are reasonable. It is neither too high nor too low, so it is sustainable, and I believe they can continue with this model.

We evaluated Thought Machine, 10x, and Mambu. Among the three, we found that Mambu is cost-effective, easy to configure, and offered a very good time to market, which is why we chose Mambu over the others.

If you are looking to quickly launch a new core banking solution or replace existing core banking systems without focusing much on innovation, you should definitely consider using Mambu, as it is often the cheaper option with a quicker time to market and less operational cost.

If you want a quick and easy solution, Mambu is one of the best options. After working with traditional core banking and alternatives, such as Thought Machine and 10x, I find that Mambu is a safe bet.

If they can provide training material and user guides that help me create a center of excellence inside my organization, it would be helpful. Having support for hands-on sessions or videos explaining how to configure and use different kinds of products will be really valuable for me and my organization. I would rate this review a seven out of ten.

I work with a financial institution and use the product for micro-financing. 

The best feature of Mambu is its capability to analyze clients. It is particularly useful for banking and financial institutions when making loans. You can easily see a portfolio with active clients and all relevant details. It is also easy to learn. 

The solution takes some time to open. 

I have been using the product for the last five years. 

Mambu is stable. 

My company has 100 users. 

I haven't contacted support yet. 

The solution's deployment is easy. 

The solution has helped us save money since we have been using it to save client information for a few years. 

Mambu's pricing is medium. 

I would recommend the solution to others. I rate it an eight out of ten. 

I use the solution as a core banking system.

The most valuable feature of the solution is that it is good for liability and debt products, but it's not good for core banking as a lot of features are not included in the tool.

There are some issues with Mambu as a tool used for core banking systems.

I have experience with Mambu. I am a client of the tool.

All systems have bugs unless there are some built-in systems like I-flex or FLEXCUBE. If you are going to have the tool in the cloud, you don't know what will go on and what will happen to the system.

Based on the financial solutions or the Fintechs that want to use the tool, I would say it is scalable.

I know that an entire bank with around 250 people uses Mambu for operations.

I have used the solution's technical support. The tool's product owner contacts the solution's support team.

If you compare Oracle FLEXCUBE, Temenos and Mambu, you will see that most of the core banking features are missing in Mambu.

The product's initial setup phase is very easy. The tool is very user-friendly.

The solution is deployed on the cloud.

The tool is worth the money.

As a core banking system, the tool is cheap.

I would suggest the product only to you based on your business. I would look at what business we are going to use the product for in general.

The product can be used for core banking purposes and to deal with the bank's customers.

Before suggesting the product to anyone, I would like to know if the solution would be used for debts, liabilities, payment gateway, loans, or some credit cards. Only based on the aforementioned factors, I suggest the product to others.

It is a good system for managing debts.

The first time you use Mambu First Line Software BV, it will be a nightmare. As days pass by, you will get hands-on experience on it.

We do have an AI for Mambu, but not intensively. Otherambu is quite capable of having APIs between two to three systems for general entries and postings. A lot of APIs are used rather than AI.

For the core banking system, it's always best to have an in-house system, which is called an I-flex, IBM, or NetFlow. Since the market is rapidly growing and everything is on the cloud, Mambu can do better, but with a slow approach or a phased approach and not a full-fledged core banking system.

I rate the tool as a seven and a half out of ten.

We use the solution as a Platform as a service. Mambu's main use case is for financial activities, particularly non-management purposes. You can manage financial products on it, create fixed deposits with evaluations, and manage these on mobile.

From a software engineering perspective, the product's best feature is its APIs. These APIs allow developers to access user funds, reschedule loans based on different activities, and adjust various transactions. Mambu is quite dynamic and robust, facilitating the improvement and expansion of our platform.

The solution's response times are different and don't work consistently. I believe there is room for improvement in the API development part, specifically in understanding the platform's specific needs and structure. It also needs improvement in user-friendliness. 

I have been using the product for a year. 

The tool doesn't often break down. However, there are sometimes issues with the dashboards, and actions take forever to load.

My company has around 10 users. The solution is scalable. 

Some months back, we contacted technical support for the solution. We were trying to install applications on mobile for admin staff using Mambu. Specifically, we needed the application to support serial development, so we containerized our applications using Docker and Kubernetes. The application wasn't processing fully on mobile, and there was an issue with SSL not attaching correctly, causing bypass problems.

The tool's deployment is not difficult. It's more about understanding the setup.

To use Mambu, you would need to add a few conditions. However, they will not disrupt your financial services. I rate the overall product a seven out of ten. 

We used Mambu to manage our portfolio, credit users, and overall performance. I provided IT support for our branch manager and operational manager. Our administrative privileges allowed us to handle issues, repayment schedules, refinancing, loan rescheduling, and journal entries. We also generated reports and worked with ISP for complex tasks. Later, at a Microfinance bank in Germany, I worked as a web developer and artificial engineer, creating APIs that integrated Mambu with our in-house applications.

I work with savings, repayment, mobile client records fetching, and custom fields. I handle custom fields on my server. There's also building up to compute your own.

You can write your app and the web application and create them manually. Instead of opening your application and doing something else that you want to do, you can add everything, including the details, in one place. 

The documentation could be improved.

I have been using Mambu for four years.

The product has some stability issues.

I rate the solution’s stability an eight out of ten.

The product has no scalability issues.

Mambu has a very strong support team that's always working and keeping us informed every step.

Positive

The deployment was neither easy nor complex.

Pricing is different based on my experience with the two companies. In India, Mambu costs twenty million around twenty nineteen. It depends on the level.

Mambu has improved the banking service because it reduced all processing. The APIs make it very easy for us to keep track of our clients at different stages of the loan status - those currently defaulting, those in bad debt, or whose savings accounts have gone dormant. This enables us to offer opportunities to clients who have performed well over the years. Most importantly, MongoDB Atlas consolidates these reports. With everything in one place, fetching reports and client information becomes straightforward. For instance, when supervisors must fetch all clients defaulting for credit release, we seamlessly integrate with SysTrack and CRC, critical systems in Nigeria.  Mambu makes it much easier to fetch client data and integrate it with credit bureau APIs for record-keeping and reporting. It's a great solution for financial institutions.

Overall, I rate the solution a nine out of ten.