The future of banking platforms

The future of banking is going to be very different from its past. For the first time ever, customers are the ones in the driver’s seat.

The sheer number of challenger banks and lenders is growing incredibly fast. Banking customers have more choices and with so many of these new banks and lenders use mobile apps, it’s easy for customers to switch and try something new.

Building great digital experiences requires continuous improvement and interaction. Successful banks and lenders in today’s world need to not only deliver a great experience – they need to be agile enough to keep improving it too.

Established banks are scrambling to compete on these new terms. And challenger banks are already stealing customers away from the establishment. But for both these groups, the fundamental challenge is the same: How do you design a bank to constantly change, evolve and iterate?

For established banks the challenge is even greater: how do you deal with all the legacy, core banking infrastructure that makes rapid iteration seem impossible?

Composable banking is a new approach to building banking and lending services that’s designed for the new dynamics unfolding in this industry. Instead of spending months manually building integrations, you use stateless APIs. Instead of getting locked-in to a specific vendor, you stay open and free to improve. Instead of building commodity infrastructure, you build only what differentiates you.

To find out why banks like N26 and New10 by ABN Amro have adopted a composable banking approach, speak with our Mambu team.

Veranstaltungstipp:

Banking Summit Vienna, 14. / 15. Mai 2020