Mambu, a cloud banking platform, has announced a global partnership with Visa in order to utilise Visa DPS – one of the largest processors of Visa debit transactions globally. The partnership will give Mambu customers a seamless connection to Visa DPS for end-to-end card issuing and processing.
Both companies recognised the importance of interconnectivity to meet the growing demand of fintechs along with incumbent financial institutions. Mambu is developing an integration to Visa DPS that will give institutions more flexibility in offering new card products and services to their customers.
Kevin Trilli, chief product officer at Mambu said: “Customer demand for card services is growing rapidly, whether it is incumbent financial institutions or fintechs. Strategic partnerships and interoperability of service providers offer the best value, choice, and flexibility for clients, whether they are embarking on digital transformation or scaling a new card programme. This is a major step to bringing more simple, transparent and connected services to any company offering financial services.
“We’re creating an opportunity for our customers to transform, scale and achieve operational excellence with this integration. Institutions can create their unique customer payment card experiences on Mambu, regardless of whether it is a deposit or loan account and get it rapidly to market. They can then leverage the issuer processing capabilities of Visa DPS to deploy new products and solutions for their customers. This partnership will enable our customers to create powerful, digital-first payment solutions and experiences.”
Todd Brockman, SVP, global head of issuing solutions, at Visa said: “Today’s banking and payment landscape requires agility, and an architecture that can easily adapt to the rapid pace of innovation in our industry. We’re excited to bring our modern API-based processing capabilities to Mambu’s growing marketplace of composable payment solutions and believe our collaboration will create tremendous value for our clients and their cardholders.”
The partnership with Visa DPS extends Mambu’s product partnerships marketplace. With payment services being a critical part of financial institutions’ offering, the integration will help increase access and business opportunities across all regions.