Heading: Mambu partners with Ibercaja Banco to launch consumer finance entity
Mambu and Ibercaja Banco Partner to Launch Consumer Finance Entity
In a strategic move to modernize its consumer finance operations, Spanish bank Ibercaja Banco has partnered with Mambu to launch a dedicated consumer finance entity in early 2025. This partnership highlights Mambu’s expertise in helping traditional banks develop innovative solutions quickly and efficiently.
The collaboration aims to enhance Ibercaja’s consumer finance operations by providing greater scalability, responsiveness, and speed to market to meet the evolving needs of customers. The phased rollout will begin with Ibercaja Technology Solutions, a newly established division focused on innovation in consumer finance and payments. This initiative will pave the way for further modernization of the bank’s legacy systems and the evolution of its portfolio to better serve the consumer lending segment in the future.
Mark Geneste, Chief Revenue Officer at Mambu, expressed excitement about supporting Ibercaja in reimagining consumer finance in Spain and driving transformational growth through their platform. The partnership underscores Mambu’s commitment to enabling long-term, sustainable growth for established financial institutions by modernizing their offerings and enhancing customer experiences.
With assets totaling €97.9 billion and serving over 2.5 million Spanish customers, Ibercaja plans to transition its consumer finance operations to Mambu’s cloud-native platform, powered by Amazon Web Services (AWS), over the next few years. Leandro Hermida Brañas, CIO of Ibercaja, emphasized that Mambu’s expertise and experience will accelerate the bank’s technological transformation and market expansion, aligning with their vision and technological strategy.
The goal is to lead the Spanish consumer finance market through technological leadership and exceptional customer experiences. By leveraging Mambu’s composable API-first platform and extensive partner ecosystem, Ibercaja aims to attract 200,000 new customers within five years and deliver future-ready, sustainable financial solutions to existing customers.
This partnership signifies a significant step towards revolutionizing consumer finance in Spain and enhancing the overall banking experience for customers.
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