Mambu Replaces Vietnamese Digibank Cake’s Core Banking Platform in Under 3 Monthsby Fintech News Vietnam October 21, 2021
SaaS cloud banking platform Mambu has worked with Vietnamese digital bank Cake, a collaboration between Be Group and VPBank, to replace its core banking technology in just 74 days.
The core replacement project will enable Cake to rapidly launch flexible and unique products, as well as shorten processing times.
Originally launched in January 2021, Cake sought to replace its core banking technology with Mambu’s platform in order to support its current hypergrowth stage.
It is the first digital bank in Vietnam to be linked to a ride-hailing app, and plans to reach 30 million customers by the end of this decade.
Pham Quang Minh, General Manager Vietnam at Mambu said,
“Mambu is very proud of what we have achieved with Cake, implementing this core replacement project in less than three months.
Cake selected Mambu as it needed maximum agility and flexibility alongside the power to offer full banking solutions, and our unrivalled speed-to-market was obviously another big selling point.”
Nguyen Huu Quang, CEO of beFinancial said,
“It was our goal to have our new digital bank offering available for customers in the quickest possible time, with easily accessible banking services, and Mambu has helped to make this goal achievable.
We now look forward to offering Cake to existing and new customers across Vietnam.”