Trigger Software unveils Mambu-powered ‘Neobank Engine’ solution

Fintech-focused software development company Trigger Software has worked with cloud banking platform Mambu on a new solution, ‘Neobank Engine’, which enables companies to launch a digital neobank in just three months.

While it typically takes banking platform six months to launch a digital neobank, Trigger Software said that with Neobank Engine, launch is possible “at the unseen speed” of three months.

Among some of the features of Neobank Engine are customer onboarding in fewer than 10 minutes and the ability to open an account via a mobile app, thereby removing the need for physical paperwork or branch visits.

During onboarding, a physical and virtual debit or credit card can be issued in Mambu, with users able to start making purchases online and in-store immediately, and to keep track of their financial transactions via the app.

Max Bondar, founder and chief executive officer of Trigger Software, said: “We’ve been working with Mambu for a long time.

“At Trigger Software, we developed 300-plus pixel-perfect screens and 150-plus ready-made banking business processes, like KYC, onboarding, payments, remittances, loans, deposits, cards, cashback, referral bonuses, and others that can run on top of Mambu.”

He added: “Today we are proud to present all this stuff perfectly pre-configured and packaged into the end-to-end solution that we call Neobank Engine powered by Mambu.”

Bondar called the neobanking space “booming”, referring to research by Finbold which found that more than 40 new digital banks have emerged in the past year.

“The best financial brands in the world, such as N26, Western Union, Raiffeisen Bank International are powered by Mambu’s cloud banking platform,” added Miljan Stamenkovic, general manager Middle East and Africa at Mambu.

“In partnership with Trigger Software, we enable customers to build great banking experiences with the unprecedented speed, quality and cost effectiveness.”

Cloud-native, API-driven banking platform Mambu has more than 260 customers worldwide, serving 100 million end users in 65 countries.

In August, Fernando Zandona was appointed permanent chief executive officer of Mambu, having served in the role on an interim basis.