Mambu, the leading SaaS cloud banking platform, announced today its successful collaboration with ABN AMRO to support BUUT, a new bank designed to help young people better manage their money. The neobank was brought to market in just 12 months, showcasing speed and agility.

BUUT is a full-service bank that offers a complete suite of financial tools within a single, intuitive app including a Dutch IBAN account, savings and budgeting tools, payments, and cards. Mambu's composable platform provides several core banking services that enable the BUUT IBAN administration underlying the payment and savings accounts.

Innovating from a foundation of trust, ABN AMRO has already launched several successful apps and brands including business lender New10 in 2016, another successful partnership where the bank leveraged Mambu’s composable banking platform.

Mark Geneste, Chief Revenue Officer at Mambu, said: “With BUUT, ABN AMRO has shown how established banks can leverage a future-ready, cloud-native platform to move with the agility and scale needed to keep up with market needs and the demands of Gen Z and Alpha. We are pleased to expand on our partnership with ABN AMRO and support them to deliver a fresh, digital-first banking experience for the next generation.”

Hein ter Braak, Head of BUUT said: “BUUT has the ambition to build the most financially healthy generation ever, and aimed to launch on the shortest possible timepath. As one of our strategic vendors, Mambu has proven to be easy and fast to implement and provides BUUT with a solution capable of scaling fast, a perfect match!”