Are you familiar with a company called Mambu? If you're not, it's a startup that operates in an entirely different way. It's one of the financial institutions that offer something known as Banking as a Service, meaning that it's designed to help others achieve their goals and dreams more than anything else. This is important because there are very few businesses of this type that operate in this manner and none of them are quite like this particular one. If you want to know more, here are 20 things about Mambu that might surprise you.
1. They exist to help other financial institutions succeed
One of the major reasons that this corporation exists is to help other financial institutions do their best work. If it were not for their services, it would be far more difficult for these types of institutions to perform their day-to-day operations in an efficient and effective manner. It's not just the banks that would suffer, either. The customers would also experience adverse effects, as they wouldn't be able to have access to their own financial information as easily or as conveniently as they currently do.
2. Everything is based on a digital platform
In order to make it easier for this company to operate on a worldwide basis and for their customers to do their own work, everything is handled through the cloud. There is no part of this technology that is not based on a digital platform, one that has been specially designed to ensure that the system is as efficient and as secure as possible.
3. Some of the most influential banks in the world trust them
It's easy to realize just how popular this corporation really is when you realize that many of the most influential banks and other financial institutions throughout the world trust them. As a matter of fact, they use Mambu almost exclusively for their mobile banking services, not to mention anything else that requires the use of cloud-based computing. That is a hefty endorsement, to say the least. It's also one that is considered well-earned throughout the industry.
4. They have the power to change the future of banking as a whole
It would be safe to say that the company has already changed the face of the banking industry in a major way. After all, it wasn't really all that long ago that the idea of mobile banking through an app on your smartphone was nothing more than a pipe dream. Twenty years ago, no one would have ever believed that this kind of thing would be possible. For some, it's still a slightly foreign concept to be able to look up all of your banking information on your smartphone or to take a picture of a check and deposit it without having to physically go to the bank. Much of this is because of the work that Mambu has done over the years. However, they're certainly not resting on their laurels, either. In fact, there is little doubt that they will continue to transform the face of the banking industry so that as technology changes, they stay ahead of the game.
5. They help customers have better banking experiences
Sometimes people get the idea that major banks are the only customers that are helped by Mambu or others like them, but that couldn't be further from the truth. In fact, it is the customers that bank with these individual institutions that are ultimately the ones who are helped the most. They are the ones who have the opportunity to benefit from things like mobile banking, from being able to pull up their statement and screenshot it at a moment's notice or even being able to apply for a loan or open a savings account online.
6. They’re really good at mobile banking
You might say that this particular corporation has made mobile banking a specialty. While that isn't technically true, it is very much true in a number of practical ways. Without the technology that they provide and the services they provide to their clients, it would be almost impossible for mobile banking to exist the way that it does today. As a matter of fact, there is even an outside chance that it wouldn't exist at all.
7. They use some of the most advanced technology there is
How did they accomplish this? For the most part, it involves a great deal of hard work and a lot of research. Of course, they also use the most advanced technology there is. That is precisely how they managed to achieve everything that they do. There's a lot to be said for the type of technology that is used for their clients. There's no doubt that the technology that they use makes banking more streamlined and far more convenient than it would be otherwise. That said, it would also be far more difficult for customers to bank securely and safely like they do now, as it is largely the responsibility of Mambu and the technology that they use to make sure that customers can make transactions securely.
8. They can scale up or down to fit the needs of their customers
One of the reasons that financial institutions enjoy working with them so much, besides the obvious fact that they are capable of providing excellent services, is because they can scale the types of services provided up or down depending on that individual financial institution's needs. Think about it this way. A major financial institution that has a number of branches is obviously going to need more services than a smaller, hometown bank that only has one location. That doesn't necessarily mean that the smaller bank can't benefit from the services provided by Mambu, only that their services would probably be scaled down a great deal as compared to a larger financial institution. The truth of the matter is that any bank that provides any type of mobile banking is going to be able to benefit from their services. At the same time, there is simply no need for a smaller bank to pay for tons of services they don't need as if they were a major corporation.
9. They have loads of customers
Obviously, a company that is this effective is going to have a lot of customers. They definitely have more than their fair share. Currently, they have more than 200 customers that are scattered all over the world. Furthermore, that number is growing each and every day.
10. The currently operate in more than 65 countries
When they say that they are a global company, they're not kidding. Out of more than 200 customers, they operate in no less than 65 countries around the world. As previously mentioned, they're constantly increasing their customer base, meaning that they are also focusing on countries where they don't currently operate. As a result, there is every chance that they will eventually expand into even more countries.
11. They’re also environmentally conscientious
You might not think of a bank as being environmentally conscientious, but they actually make every effort to reduce their carbon footprint as much as possible. As a matter of fact, they have managed to reduce it by roughly 40% so far. This is accomplished through a variety of different things, not the least of which includes changing the way that they do business so that they're operating out of a facility that uses more green energy instead of traditional fossil fuels, allowing people to work from home instead of forcing them to commute and anything else they can figure out to shake things up.
12. They’re currently valued at more than $2 billion
There's something to be said about a company that's capable of handling its own finances in a truly controlled manner. Mambu definitely has that one covered as well. At the moment, they're valued at more than $2 billion, thanks in large part to their ability to deliver on their promises in a way that few other companies have ever been able to do.
13. They just raised an additional $135 million
In addition to being valued at more than $2 billion, they also raised an additional $135 million as of a few months ago. That's a great deal of money, even in the world of high finance. In fact, it will be interesting to see what they do with it because they have certainly managed to use the money that they've raised through past funding sessions very wisely.
14. They plan to solidify their current operations with the extra money
As a matter of fact, they say that they plan to solidify current operations they are already working on with the extra money, in order to make sure that their technology is always up-to-date and their security system is airtight. However, they also plan to do a lot of research and development in order to make sure that they stay on top of things as this technology changes in the future.
15. They also plan to expand into other markets
Another thing they plan to do with the extra money is to expand into other markets that they're either not currently in or that they don't have a big presence in. For them, it's about providing a convenient and effective banking experience to everyone all over the world, not just the markets where they stand to make the most money.
16. They’re based in Berlin
While the company works on a worldwide basis, they have their physical headquarters in Berlin, Germany. Some people might think that there was a strategic reason that they ultimately decided to locate the company in Berlin, but the truth of the matter is that they simply placed the headquarters there for practical reasons and expanded from that point forward.
17. They are practically the definition of a worldwide operation
As previously mentioned, they are more or less the very definition of a global company. Regardless of where their physical headquarters might be, they are keen on helping as many individuals as possible all over the world, no matter where they might be located.
18. They say that finances, technology and a healthier planet are all linked
Is it really possible for things like finances and technology to be linked to a healthier planet in the way that Mambu says it is? More specifically, is it possible for a fintech startup to make any kind of appreciable difference in the health of the planet? It looks like it is indeed possible to do exactly that. As a matter of fact, Mambu says that it's not only possible, but that it is part of their responsibility to make sure that they do their part. They're hoping that by showing that it is indeed possible for companies to do this sort of thing, that other companies will take suit and start doing the same.
19. They want to help disadvantaged regions
Aside from protecting the planet, one of their other major goals is to make it easier for people to do banking in a new and effective manner. That includes regions that have traditionally been left out by such things, places such as the Pacific region. The fact that they are able to have a genuine presence in regions that have traditionally been more or less left out from mobile banking is not only an effective business strategy, but also one that provides genuine assistance to the people who seem to need it most.
20. They tend to focus on culture more than many corporations do
They also tend to focus more on workplace culture than a lot of other companies do. Much of their attention is placed on a shared culture between all of their employees, not just focusing on one singular culture and then expecting everyone else to conform to it. It seems that they are changing the way that business is done in a lot of different areas. Hopefully, they will be able to start some new business trends that will change things across the board in the relatively near future.
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Written by Allen Lee
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