365.bank taps Backbase and Mambu to power its digital reinvention
365.bank today announces that it has selected Engagement Banking technology provider Backbase in conjunction with Mambu, the SaaS banking platform, to power its digital transformation. The collaboration will see 365.bank leveraging Backbase and Mambu’s combined technology offering to strategically transform from “mobile first” to full service and omnichannel bank.
As the most preferred digital bank in Slovakia, the goal of 365.bank is to move to an omnichannel experience and to improve its current digital core banking system, which will keep pace with the rapidly evolving world in this area. As a result of this partnership, 365.bank expects to decrease its time to market with new solutions compared to the previous custom, in-house build approach, ensure 24/7 access to banking services for its customers, improve its use of data to better tailor the customer experience, accelerate innovation, and address gaps in its legacy systems – all with a view towards creating a better, more customised user journey.
365.bank is adopting the full digital sales and digital banking capabilities of Backbase’s Engagement Banking platform for its retail business, helping to improve the customer experience in all areas, including opening accounts, applying for new products, and conducting day-to-day online banking activities. In addition, 365.bank has signed onto Backbase-as-a-Service (BaaS), a full suite of managed hosting services that will allow the bank to innovate at scale and rapidly deploy system updates and new products to continuously enhance the user experience.
Mambu will fully transform 365.bank’s legacy core into a modern cloud-native platform that is configurable and adaptable to future technologies. Through open APIs, both Mambu and Backbase seamlessly integrate with third party fintech solutions, providing 365.bank with a scalable digital ecosystem and sophisticated digital tools and services.
The combined Backbase-Mambu service offering provides 365.bank with a fully integrated, end-to-end cloud-native digital banking solution on an open and modern architecture. This creates a future-proof infrastructure that will allow 365.bank to continue its growth trajectory as one of Central Eastern Europe’s leading financial institutions. The partnership further allows 365.bank to create enhanced value for their clients on a daily basis and dramatically reduce their back-end operating costs.
Our goal is to give our customers a first class omnichannel banking experience that consistently delights users. We are building a customer-centric bank, which allows them to think less about their money and have more time for the things that they love. But in order to do this, we needed flexible and scalable technical infrastructure and state-of-the-art banking services that enable us to react instantly to our customers’ needs. This is where Mambu and Backbase came in. With their impeccable track records, agile way of working, innovative solutions, quick time to market and modern, scalable digital architecture, it was a no-brainer to select them as our digital partners.
Andrej Zaťko, CEO of 365.bank
Matthijs Eijpe, Regional Vice President EMEA at Backbase, says:
“It was immediately clear to us that 365.bank had a compelling, innovative vision for their strategy and future – and high standards for the partners that would help them on that journey, as well. The bank was looking for a partner who would be able to give them solutions that it could quickly adopt and deploy, while still enabling customisation. Fortunately, Backbase’s modern architecture and culture means banks – no matter their size – no longer have to choose between speed to market and a unique, tailored customer experience.“
Eelco-Jan Boonstra, Managing Director of Mambu EMEA, adds:
“Unbeatable financial institutions are those that embrace cloud-first thinking, like 365.bank. Combined, the Backbase and Mambu offering will provide 365.bank with the flexibility it needs to become the leader in the region. 365.bank will have a state-of-the-art banking platform and benefit from agility, reduced IT operational costs and opportunities in developing excellent customer experience. Mambu’s platform will enable 365.bank to build and deliver banking services exactly as they want and we’re looking forward to seeing 365.bank deliver on its vision.“
About Mambu
Mambu is the only true SaaS cloud banking platform. Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu has 600 employees that support 200 customers in over 65 countries – including N26, OakNorth, Tandem, ABN AMRO, Bank Islam and Orange. www.mambu.com
About 365.bank
365.bank is the preferred and best known digital bank in Slovakia with the ambition to provide a unique omnichannel customer experience based on innovative products and services. We are a customer-centric bank developed for clients, with clients. Thanks to today’s technology, we strive to be useful for our clients in their everyday lives. We started as a mobile-first digital bank and are maturing to become a full-service omnichannel bank.
Poštová banka, part of our banking group, is the most accessible bank in Slovakia with more than 1,500 contact points. 365.bank and Poštová banka are among the top five largest banks on the market in terms of balance sheet. With almost 1 million clients, they belong to the top three banks on the market.
In the future we aspire to be positioned within the main 3 banks in „top of the mind“ brand awareness as a full service digital bank with retail branches throughout Slovakia. www.365.bank