We were proud to be highlighted recently by global analyst firm Ovum in an ‘On The Radar’ report, a series of research notes that highlight up-and-coming vendors that bring innovative ideas, products, or business models to their markets.
According to Ovum, many financial institutions are realizing that the world’s underbanked segment represents an increasingly attractive market in many growth economies in terms of absolute revenue potential and future growth rates.
In the report, Ovum explains that the challenge for organizations looking to rapidly reach this market segment is in providing a low cost banking platform that allows viable support of previously underbanked users, whether they be individuals, or in the micro and small to medium enterprise sector.
Mambu is helping to address this challenge through our SaaS-based banking platform, giving microfinance institutions and innovative greenfield banks, a rapid time to market at very affordable costs
Daniel Mayo, chief analyst and practice leader for financial services technology at Ovum, said “While a fully cloud-based platform may not be the first choice for most traditional banks looking for a banking platform to move into new markets, innovative banks are rapidly realizing that perhaps it should be. Cloud-based models offer a step-change in terms of pricing and deployment speed. Mambu offers a low-cost/low-risk option for banks to develop their business models in the microfinance and emerging enterprise space, and in the longer term could even provide interesting options for a bank’s mainstream business.”
You can read the full report here: Ovum On The Radar