The benefits of composable finance software, according to Ricardo Ribelles

The benefits of composable finance software, according to Ricardo Ribelles

Mambu’s director of partnership development explains why organisations investing in software like Mambu’s cloud-native core banking platform are better equipped to react to changing consumer behaviours 

Rebecca Gibson |

Analyst firm Gartner predicts that at least 60 per cent of organisations will invest in composable finance applications by 2024 and suggests that firms adopting such a strategy will achieve higher revenue growth than peers taking more traditional routes with technology investments. One reason for this migration is that in today’s challenging macroeconomic and regulatory environment, businesses must be able to adapt quickly, says Ricardo Ribelles, director of partnerships development at financial software provider Mambu. 

“Traditionally, organisations signed long-term contracts for a single solution, but these siloed systems are inflexible and outdated, so they can’t be easily adapted to accommodate changing market trends and customer behaviours,” he says. “Now, organisations want composable IT ecosystems made up from modular solutions that offer specific capabilities and are delivered by best-of-breed solutions.”  

Mambu’s flexible cloud-native core banking system, for example, integrates with best-of-breed connected services through application programming interfaces to give organisations a composable technology foundation. “Banks, fintechs, lenders, retailers and others can build innovative financial services products and customer-centric experiences on top of this foundation,” says Ribelles, adding that Mambu is delivered as a software-as-a-service (SaaS) offering to maximise flexibility.  

Mambu has selected Microsoft as one of its key cloud partners. This gives Mambu access to both Microsoft’s extensive technology stack and global ecosystem of partners.  

“Microsoft is one of world’s biggest technology providers and offers multiple other platforms and applications that improve everything from customer relationship management to data analytics,” says Ribelles. “We can integrate Mambu with these products to enable businesses to offer a better end-to-end customer experience and optimise their operations. Plus, we have opportunities to potentially work with the partner ecosystem to expand our product offering.” 

Building on the Microsoft Azure cloud platform also ensures Mambu is secure and compliant.  “We serve hundreds of customers across 65 different markets, all of which must comply with strict regulations, so it’s crucial that we’re able to deploy our solution in a reliable, secure and compliant way,” explains Ribelles. “Integrating Mambu with Microsoft Azure allows us to leverage Microsoft’s global scale, compliance expertise and extensive resources to guarantee world-class security and compliance.”   

In 2023, Mambu extended its relationship with Microsoft by becoming a transactable SaaS offering on the Microsoft Azure marketplace for its core banking platform.  

"Now that businesses are favouring composable IT ecosystems, they’re choosing to transact via aggregator marketplaces and we expect this behaviour will become mainstream soon,” says Ribelles. “Many of our customers are already familiar with transacting via the Azure marketplace, so it’s quick, easy and convenient for them to purchase Mambu this way. We have high hopes the marketplace will become one of our main sales channels." 

“The Microsoft partnership is a key milestone and empowers us with the technologies and scale we need to rapidly develop our product and grow our business.”  

This article was originally published in the Summer 2023 issue of Technology Record. To get future issues delivered directly to your inbox, sign up for a free subscription

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