Mambu to Power Vietnam’s First Digital-Only Bankby Fintech News Singapore March 5, 2020
Vietnam Maritime Commercial Joint Stock Bank (MSB), one of Vietnam’s leading commercial banks, has announced it will adopt Mambu’s cloud-native banking platform as its key technology solution to help the business undergo a radical digital transformation. MSB plans to launch Vietnam’s first digital bank by the end of 2020.
Mambu’s composable banking platform will underpin MSB’s move to digital as the business aims to be the first to market with a cloud-based bank offering in the region. Mambu’s pure SaaS technology will be a critical tool to enable flexibility as MSB seeks to better understand customer needs and provide superior customer service.
Commenting on the deal, Bryan Carroll, CDO of MSB, said:
“There’s no denying that the future of banking is digital, and we want to be a big part of it. We’re investing heavily in our digital transformation and have also assigned significant resources to ensuring we have improved product offerings for our valuable customers. We’ve selected Mambu’s composable platform to build Vietnam’s first digital only bank as it is fully scalable, allowing us to grow quickly and respond with agility to customer needs as they arise. The Mambu platform is also completely configurable, meaning we can design it to meet our specific requirements.”
Myles Bertrand, Mambu’s Managing Director APAC, said:
“MSB has a target of becoming the best commercial bank in Vietnam and we will have a hand in helping the business achieve its goal as it undergoes this exciting digital transformation. Mambu’s cloud-native technology is the ideal platform to consolidate MSB’s position as a first-mover in the digital banking landscape in Vietnam.”
MSB’s digital bank will be Vietnam’s first purely digital only, cloud-based bank with no physical branches.