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

8th Swiss Payment Forum: Trends in the Financial Services Industry

Switzerland, October 2019 – The financial services industry is in a state of upheaval: banks are in the midst of digital transformation and the cooperation between banks and... Read more »

OpenPayd announces new Chief Product Officer and Chief Growth Officer

OpenPayd today announces the appointment of Adam Bialy as Chief Product Officer and Sophie Guibaud as Chief Growth Officer.

Sophie joins OpenPayd from Fidor, where she... Read more »

Upgrade Launches Card

Upgrade, Inc., a consumer credit platform that offers affordable and responsible loans, together with credit monitoring and education tools, today announced the launch of... Read more »

The Royal Mint and Mastercard unveil first of a kind solid gold payment card

Working in association with Mastercard and Accomplish Financial, The Royal Mint has today announced production of the world’s first hallmarked precious metals... Read more »

CaixaBank Uses Artificial Intelligence to Simplify the Management of Direct Debit Payments

CaixaBank has developed an innovation project using artificial intelligence to manage returned direct debit payments. As a leading Spanish retail bank, CaixaBank manages 450... 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