Change Financial’s partnership with Mambu creates a synergy that will offer the clients of both companies digital payment and banking services under one roof.

Global fintech company Change Financial (ASX:CCA) has joined forces with award winning cloud banking platform Mambu, as it looks to bolster its digital banking and payment offering in Australia and NZ.

The partnership will see Change’s leading Vertexon PaaS platform, which enables banks and fintechs to deliver physical and digital card payments and processing, added to Mambu’s application programming interface (API)-driven cloud banking platform.

Launched in 2011, Mambu’s software has been recognised as a powerful alternative to the costs and complexity of traditional core banking systems or custom in-house solutions.

Mambu’s customers range from top tier banks like ABN AMRO and Santander, to emerging neo-bank Hay and leading payments specialist Tyro Payments.

Mambu Managing Director of Asia Pacific, Myles Bertrand said: “Mambu’s partnership with Change strengthens our digital payments capabilities, whilst enabling Change to connect its customers to our market leading cloud-native core banking solution.”


It’s all about synergy

Today’s customers are increasingly expecting on-demand access to multiple digital payments and modern banking experiences.

The rationale for the partnership is that Mambu and Change could leverage on each other’s strengths and develop an ecosystem approach, working together to deliver fast-to-market SaaS solutions to Australian and New Zealand financial institutions.

Combining Change’s expertise in payments space and Mambu’s capability in SaaS cloud banking will enable customers of both organisations to shift to a high-velocity operating model with minimal effort.

Management believes that  Change’s product roadmap and focus on the provision of seamless digital payments is a powerful addition to Mambu’s composable cloud banking foundation.

“Our card payments and processing technologies are essential for a modern digital banking experience, and our combined solutions with Mambu’s composable banking platform will deliver innovative payment and digital banking solutions to our end customers,” says Change Chief Product Officer, Vinnie D’Alessandro.

“So this strategic partnership with Mambu supports our growth objectives for the Australian and New Zealand markets,” he continued.

In addition, it’s expected that Mambu will work with Change to make their payment emulation and testing solution, PaySim, available to clients.

PaySim allows financial institutions to simulate and test the full payment lifecycle of their systems, including load and stress testing as well as ATM, POS and card scheme simulation.

“We see a great deal of synergy in this partnership, and we’re excited about the opportunities it will bring to our customers,” said Mambu General Manager Australia and New Zealand, Paul Apolony.


Rapid deployment

The Mambu partnership follows the successful launch of Change’s Vertexon SaaS platform announced during the last quarter.

The platform was launched on Amazon Web Services (AWS) in Sydney to service banks and fintechs in the Oceania region.

Importantly, Change had also commenced onboarding its first payments-as-a-service (PaaS) client in the lucrative US market during the quarter, and is now pursuing multiple new client leads across the US, Australasia and Latin America.

The Vertexon platform was delivered on schedule and on budget, and today’s announcement has shown that it’s also highly scalable and could be rapidly rolled out in response to client demand.

This article was developed in collaboration with Change Financial, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.