Sweden’s First Neobank P.F.C. Selects Mambu
- 30.09.2019 08:37 am
P.F.C. (Personal Finance Co.), the Stockholm-based neobank, today announced that it has gone live on Mambu’s leading SaaS banking engine. Ten months after the initial launch, P.F.C. sustains a monthly growth rate of 35% and has rapidly gained a foothold in Sweden’s competitive fintech market. The partnership helps P.F.C. accelerate the deployment of its innovative features and products aimed at simplifying everyday financial use.
Backed by Nordea, the largest bank in the Nordics region, P.F.C. offers a personal finance app with an accompanying debit card and, through automation and data-driven insights, customers are encouraged to reach their financial goals.
The composable nature of Mambu’s engine allows P.F.C.to leverage what Mambu does best, allowing P.F.C. to innovate on their back end and customer facing systems.
“P.F.C. is exceptional in that we offer a highly personalised and transparent banking experience that’s simple to use. Our offering requires a highly flexible and scalable system, which is why we partnered up with Mambu,” said Eli Daniel Keren, founder and CEO of P.F.C. “Mambu is a trusted and supportive partner. In just nine months, we were able to deploy a feature-rich mobile-first neobank, and can now focus on international expansion and innovations to enhance the customer experience, and deliver more value.”
P.F.C. will soon begin to deploy major additional features for personalised savings and credit products. Mambu’s rapid deployment capability supports the agility of P.F.C.’s product development and enables the mobile-first neobank to test and launch these new features much faster.
“Innovation and agility are core to Mambu’s operations and our partnership with P.F.C. opens up unique opportunities in both areas. By leveraging our cloud-native API-first architecture and pre-configured functionalities, P.F.C. was able to use Mambu as an important piece of their full neobank to go live in months,” said Eelco-Jan Boonstra, Managing Director of Mambu EMEA.
“Progressive digital banks have found a new way of doing business and tend to attract young, information-hungry customers that are comfortable with technology. When it comes to user experience, this target audience has high expectations, and also continuously changing needs. Powered by Mambu, P.F.C. is able to meet these needs, at the same time accelerating the development of new products and features, quickly becoming a one-stop-shop for personal finance.” said Eelco-Jan Boonstra.