Leeds Constructing Society, the fifth largest constructing society within the UK, has gone reside on Mambu’s cloud banking platform.
The monetary establishment has launched a pilot digital financial savings answer and expects so as to add its mortgage providing to the modernization initiative.
Headquartered in Berlin, Germany, Mambu has been a Finovate alum since 2013.
After working on a legacy core system for greater than 20 years, Leeds Constructing Society—the fifth largest constructing society within the UK—has gone reside on Mambu’s cloud banking platform. Step one for the establishment, in what it’s calling a multi-year core modernization undertaking, has been to launch a pilot digital financial savings answer.
“Our partnership with Mambu continues to go from power to power. We’ve spent the previous yr constructing the engineering foundations for the entire overhaul of our expertise and we’re delighted to see the expertise getting used for reside financial savings accounts,” Leeds Constructing Society Chief Working Officer Rob Howse mentioned.
In a press release, Leeds Constructing Society praised Mambu for the pace with which the establishment was in a position to launch its new financial savings providing. The constructing society famous that the financial savings merchandise launched lower than a yr after beginning the construct. Leeds Constructing Society anticipates finally including its mortgage providing to its modernization plan due to Mambu’s composable structure and cloud expertise.
Composable banking permits monetary providers corporations to leverage the quick and versatile meeting of impartial, best-for-purpose programs to design and ship new options and providers. Composable banking permits corporations to use agile rules to construct, check, and launch new options; choose and mix applied sciences in distinctive methods to design a aggressive benefit; construct each off-the-shelf and customised cloud options; and keep away from the potential delays and dependencies of counting on single vendor companions.
Mambu’s cloud banking platform permits monetary establishments to reap the benefits of these options, empowering corporations to supply configurable deposits and lending merchandise, collaborate with third-party expertise suppliers, and extra. Up to now, the platform has delivered 400 profitable go-lives, served greater than 260 clients and 114 million finish customers, and offered price financial savings of as much as 50% on implementation, integration, customization, infrastructure, and upkeep.
“Partnering with Mambu supplies us with an answer that brings one of the best composable structure and cloud expertise coupled with revolutionary performance that matches the perfect within the business,” Howse added. “This strategic transfer will imply we are able to spend extra time bettering the lives of our members and fewer worrying about our legacy expertise.”
Established in 1875, Leeds Constructing Society has a million members throughout the UK. Working as a mutual, Leeds Constructing Society affords mortgage, financial savings, insurance coverage options, in addition to monetary wellness and monetary literacy content material. The partnership with Mambu coincides with the establishment’s a hundred and fiftieth anniversary and the “12 months of the Cooperative”—a worldwide effort launched by the United Nations to advertise the work of cooperative monetary establishments and their contributions to sustainable improvement.
“Leeds Constructing Society’s transfer to Mambu is a landmark second for each the group and the constructing society sector at massive, reflecting our strengthening presence within the sector and our sturdy observe document of offering transformative options to banks, fintechs, and different monetary providers organizations throughout the UK,” Mambu Chief Income Officer Mark Geneste mentioned.
Berlin, Germany-based Mambu made its Finovate debut at FinovateAsia 2013. The corporate most not too long ago demoed its expertise on the Finovate stage in New York for FinovateFall 2021 and in London at FinovateEurope 2022 (in partnership with Persistent Methods). Mambu started 2025 saying a partnership with Cash DD, a subsidiary of Thailand’s Authorities Financial savings Financial institution (GSB), in help of its new digital lending platform Good Cash. The fintech additionally teamed up with Spain’s Ibercaja Banco, serving to the establishment launch a devoted shopper finance entity. Final month, Mambu introduced a pair of additives to its C-suite, introducing Ellie Heath as Chief Folks Officer and Semhal Tarekegn O’Gorman as Chief Buyer Success Officer.
Picture by Rodolfo Quirós
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