Mambu and Change Financial join forces
- Mambu and Change will leverage an ecosystem approach, working together to deliver fast-to-market SaaS solutions to Australian and New Zealand financial institutions
- Mambu is also partnering with Change to help clients test and build payment emulators
- The digital payment market size is worth US$361.30 billion by 2030, and APAC is projected to witness the highest growth rate
Mambu, a global software developer of open banking solutions, and Change Financial are combining their expertise to bolster Australia’s digital banking and payments capabilities.
The partnership between these two companies will complement each other by integrating Change’s Vertexon PaaS platform into Mambu’s application programming interface (API)-driven cloud banking platform.
Digital payments and banking services have changed the way people interact with their money and how they expect to access it. Mambu and Change will leverage an ecosystem approach, working together to deliver fast-to-market SaaS solutions to Australian and New Zealand financial institutions.
The partnership will allow seamless integration of adding prepaid, debit, and credit card and processing capabilities and digital card payments like Apple Pay, Google Pay, and Samsung Pay to Mambu’s platform.
Meanwhile, Change’s solutions include Buy Now Pay Later (BNPL) features for cards and transaction processing for all major schemes, including Mastercard, Visa, Amex, JCB, and UnionPay.
Mambu is also partnering with Change to help clients test and build payment emulators. Clients who want to test or emulate real-world banking scenarios can now do so using the PaySim platform, which contains all of the features of a live bank account, including integrated ACH, VISA, and Mastercard processing.
This will enable their clients to efficiently run a complete payment cycle without any changes being made on the banking side.
Mambu and Change Financial to strengthen digital payments capabilities
“Mambu’s partnership with Change strengthens our digital payments capabilities while enabling Change to connect its customers to our market-leading cloud-native core banking solution. Change’s product roadmap and focus on the provision of seamless digital payments is a powerful addition to Mambu’s composable cloud banking foundation,” said Mambu Managing Director Asia Pacific, Myles Bertrand.
“We see a great deal of synergy in this partnership, and we’re excited about the opportunities it will bring to our customers, ” he added.
“The strategic partnership with Mambu supports our growth objectives for the Australian and New Zealand markets. Our card payments and processing technologies are essential for a modern digital banking experience. Our combined solutions with Mambu’s composable banking platform will deliver innovative payment and digital banking solutions to our end customers”, said Change Chief Product Officer Vinnie D’Alessandro.
Mambu General Manager Australia and New Zealand, Paul Apolony, added, “Change is a leading provider in the global payments space, like Mambu they’re committed to digital transformation using SaaS solutions and a customer-centric approach. We believe our combined functionalities will enable customers of both organisations to shift to a high-velocity operating model with minimal effort.”
Digital payments are the new norm in APAC. For example, to facilitate digital payments, several tech firms have created mobile apps that make it easy for consumers to pay for goods and services with their smartphones or other devices.
The rapid growth of these technologies means that digital payments are here to stay and will likely become even more prevalent in the future. According to Grand View Research, Inc, the digital payment market size is worth US$361.30 billion by 2030, and APAC is projected to witness the highest growth rate.
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