Cheers Paytech chooses Mambu as core banking system

Cheers Paytech chooses Mambu as core banking system
25.07.2019 09:42 am

Cheers Paytech chooses Mambu as core banking system

Payments , Banking , Core Banking , Cloud

Cheers Paytech, the Singapore-based fintech, has partnered with Mambu to provide the core banking technology for all wallet accounts to fuel growth. The partnership will facilitate the backend movement of funds within the Cheers Wallet Engine. 

Mambu’s rapid deployment capability and API-first architecture will allow the team to integrate quickly and without the need for complex coding or underlying infrastructure maintenance.

Cheers Paytech’s Chief Executive Officer, Gregor Arn said: “At Cheers Paytech we pride ourselves on providing customers with the best, most innovative technology available. We chose Mambu to provide our core banking system because their capabilities are fully aligned with our model, goals and culture.” 

Cheers Paytech’s Chief Growth Officer, Arish Khajotia added: “We are in the privileged position as a startup to have a customer pipeline filled through to the end of 2020 and beyond, representing a total potential wallet user base of over 100 million wallets as of today. The Cheers Wallet Engine, powered with Mambu, will further enable the strong adoption by those currently suffering from financial exclusion to not only access mobile payments, but to become an active part of the wider global digital economy.”

Mambu’s cloud-native and API-first architecture will help the team to deploy within a matter of months, enabling a composable solution that allows Cheers Paytech to be as agile as possible in adapting to customer needs as they change.

Myles Bertrand, Managing Director, APAC, Mambu remarked: "The financial sector is leveraging digital technology to meet the changing expectations of customers and markets as well as reach underbanked and unbanked consumers. As the leading SaaS banking engine, Mambu is aligned to Cheers Paytech’s innovative model and culture, and supporting agile and quick integration and we look forward to working closely with them to help customers across the region.”

Related News

Brazilians tend to increase spendings on ecommerce after the pandemic, EBANX study shows

A research launched by EBANX, on the impacts of the COVID-19 pandemic on the ecommerce market in Brazil and the post-pandemic perspectives, brings in the results an intention... Read more »

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

South Africa’s Mama Money Expands Global Reach with Western Union

Western Union, a leader in cross-border, cross-currency money movement... Read more »

SatoshiPay Secures $550,000 investment from Stellar Development Foundation

The Stellar Development Foundation ("SDF") has made a strategic investment of $550,000 by way of convertible loan notes. This investment marks the third investment made by SDF... Read more »

Enfuce powers payments in MaaS Global’s revolutionary mobility app

Maas Global, the leading Mobility as a Service provider, has partnered with Enfuce – Finland’s largest fintech startup – to launch a card payment offering in Whim, MaaS Global’... Read more »

Modern Card Issuing Leader Marqeta Valued at $4.3B in Latest Round

Marqeta, the global modern card issuing platform, announced today that it has raised an additional $150 million in new... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel