Latest news with #corebanking
Finextra
30-06-2025
- Business
- Finextra
Maib selects Tuum for digital transformation propject
Tuum, the next-generation core banking platform, has announced today a strategic partnership with maib in Romania, where Moldova's largest bank looks at establishing its digital banking presence with asset-light retail-only offering. 0 Tuum's SaaS core banking platform will serve as the foundation for maib's greenfield operations in Romania. Maib selected Tuum in Romania after a comprehensive evaluation of leading core banking providers. Tuum stood out for its modularity, modern architecture, and rare ability to support agnostic deployment. This feature, enabling in-country deployment where necessary, was a key differentiator, future-proofing maib European data residency compliance as it scales. Jurgen de Ruijter, Head Representative of maib's operations in Romania, stated: 'Maib's decision to partner with Tuum came after a comprehensive evaluation of leading core banking platforms. Tuum was identified as the most modern, modular, and technologically advanced platform, setting it apart from other next-generation core banking solutions. We believe this solution supports us in our endeavour to build the next generation fintech.' Miljan Stamenkovic, Chief Revenue Officer at Tuum, commented: 'This is a milestone partnership for Tuum and a powerful validation of our platform's leadership in the European core banking market. Maib's expansion into Romania is one of the most ambitious digital banking initiatives in the region, and we're proud to support it with a solution engineered for speed, scalability, and compliance. Our agnostic deployment capability was a decisive factor—proving once again that flexibility is key in enabling banks to move fast and scale smart.' This deal highlights Tuum's leadership in enabling established financial institutions to execute 'launch and expand' strategies with modern, cloud-native technology. It reinforces Tuum's role as a strategic partner for ambitious digital banking ventures across Europe.
Finextra
26-06-2025
- Business
- Finextra
Innovation Norway selects Mabu and Knowit for core banking
Innovation Norway has selected Knowit and Mambu to modernise its core banking platform, marking a significant milestone in the digital transformation of public financial services. 0 The new solution, powered by Mambu's cloud-native technology and seamlessly integrated to the Norwegian financial systems by Knowit, will optimise Innovation Norway's loan, grant, and guarantee functions, enabling greater efficiency and scalability for the organisation and the businesses it supports. As Norway's government-owned national development bank, Innovation Norway plays a pivotal role in supporting innovation and business development across all counties in the country. To support the needs of its customers, Innovation Norway requires a replacement for its legacy banking solution, which currently handles critical functions related to loans, grants, and guarantees, including loan origination, product configuration and setup, funding management, credit processes, and case management. 'Innovation Norway plays an important role as an industrial bank supporting Norwegian companies by offering the full range of financing solutions: risk loans, market loans, guarantees and grants. We are looking forward to further improve our services together with Knowit and Mambu to build a financial platform that will serve our customers in years to come,' says Leon Bakkebø, EVP Banking & Financing at Innovation Norway. The new core banking solution will streamline manual processes, enhance data quality, and enable improved real-time insights. These advancements align with Innovation Norway's objectives of fostering greater digitalisation and operational efficiency. Knowit, serving as the primary system integrator, will ensure smooth implementation and integration of the new platform within Norway's financial ecosystem 'We're proud to support Innovation Norway realise its digital transformation goals. Together with Mambu we are delivering a solution that will automate processes, improve data management, and provide real-time insights, empowering Innovation Norway to better serve Norwegian businesses. We already have extensive experience in implementing and modernizing financial solutions in the Nordic region, and have, among other things, a similar project for the Norwegian Public Service Pension Fund (SPK), where delivery is expected to be in place shortly,' says Jan Georg Lehmann, Chief Commercial Officer at Knowit Financial Solutions. 'Many established institutions are locked into legacy environments making it incredibly challenging to adapt to new consumer and market demands. We are excited to partner with Knowit to deliver a modern, cloud-based banking solution to Innovation Norway. Our platform offers the flexibility and scalability needed to future-proof Innovation Norway's operations, while driving innovation in key areas like loans, grants, and guarantees. This collaboration is an important step towards empowering Norwegian businesses for the future.' says Jorno Levels, Commercial Lead Nordics & Baltics at Mambu. The project spans four years, with an option for annual extensions up to eight years. The agreement was signed this week and the work to develop and improve the financial platform has already started.
Yahoo
25-06-2025
- Business
- Yahoo
League Data successfully migrates 37 Atlantic credit unions to cloud-based modernized banking platform in 15 months
- This "first of its kind" core banking transformation streamlines operations, delivers personalized services and provides future-positioned solutions for credit unions HALIFAX, NS, June 25, 2025 /CNW/ - League Data, the centralized CIO and trusted technology partner of Atlantic credit unions for over 50 years, has successfully completed 37 conversions to the Mambu cloud-based core banking platform. With the final conversion of Mosaik Credit Union (June 13-15), League Data and its partners have accomplished this major digital transformation in just over a year. This accomplishment showcases a first of its kind core banking transformation of unprecedented scale in the Canadian financial sector and will future-proof the Atlantic Credit Union System for an evolving financial services landscape. "It's been a remarkable experience to lay the foundation for a more agile and scalable banking ecosystem. We have set a new benchmark for transforming core banking in a way that directly benefits members — making their financial lives simpler and smarter," says Alfred Arsenault, CEO at Provincial Credit Union & Board Chair for League Data. Collaboration was a central pillar in achieving this milestone as industry leaders such as AWS, Mambu, MuleSoft, Everlink, Central 1 and Persistent brought deep expertise to support this large-scale transformation. "This endeavor demonstrates what's possible when an entire ecosystem moves forward together with shared purpose and trust. I would like to thank all the credit unions and our partners who made this accomplishment possible. We are excited to start this new phase of modernization and build the momentum for a revolutionized credit union system," said Chad Griffin, CEO, League Data. The achievement was made even more meaningful as League Data marked its 50th anniversary this year in April. For five decades, League Data has empowered credit unions to better serve their members through cutting-edge and critical technology solutions for everyday banking. With the successful completion of this initiative, League Data will focus on opportunities to collaborate further with credit unions across the country. With a firm belief that together, the cooperative system is stronger and increased collaboration will create more opportunities to share knowledge and learn from one another. This new collaboration will explore financial technology solutions to grow the Canadian credit union system towards a viable future. All through cooperative values. About League Data As the centralized Chief Information Officer (CIO) for the Atlantic Credit Union System, League Data Ltd. provides technology leadership in the area of banking solutions, aligned with regional and national credit union system initiatives that support member growth and system efficiencies. League Data provides over 50 seamless, fully integrated technology solutions from key vendors to deliver a member-first experience while meeting the evolving banking needs of both credit unions and their members. SOURCE League Data Ltd. View original content: Sign in to access your portfolio
Yahoo
20-06-2025
- Business
- Yahoo
Light Frame and Mambu enter wealth management partnership
Swiss investment operations technology company Light Frame has joined forces with cloud-native core banking solutions provider Mambu on private banking and wealth management. This collaboration aims to deliver a 'next-generation' core banking solution designed for the private banking and wealth management industries. According to Mambu, the collaboration is 'timely', as wealth managers and private banks navigate shifting client demands, heightened regulatory challenges, and intensifying profitability pressures. This partnership seeks to provide banks with 'distinct advantage' in developing and implementing their strategies, the core banking tech vendor added. Mambu region manager of DACH Cenk Bozal said: 'Mambu's entry into private banking alongside Light Frame marks a material step toward modernising a sector that has historically seen limited innovation. 'With over 260 live customers across 65 countries, Mambu is uniquely positioned to partner with the industry to realise the transformational value of a modern, proven core.' Mambu states that the wealth management industry continues to be limited by outdated technology, leading to elevated operational expenses and restricted innovation. The collaboration between Mambu and Light Frame is said to offer a timely and innovative solution for institutions looking for modern, secure, compliant, and scalable alternatives. By connecting investment operations with core retail banking, this solution hopes to enable wealth institutions to provide 'seamless' and comprehensive banking and investment experiences; speed up implementation and simplify IT infrastructure. It also looks to help wealth institutions integrate with third-party systems; boost productivity and automation with user-friendly interfaces and contemporary architecture; and maintain compliance and scalability through a cloud-native framework. Light Frame CEO Schuyler Weiss said: 'When we set out to build a modern Swiss private bank, we searched for a core system that could deliver sophisticated wealth services while embracing the advantages of new technology. It did not exist. That experience led to Light Frame. Today, in partnership with Mambu, we are offering a new benchmark—an end-to-end solution that is fast to implement, intuitive to use, and purpose-built for the high-touch, tailored services that define private banking.' "Light Frame and Mambu enter wealth management partnership " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
19-06-2025
- Business
- Finextra
Mambu and Light frame collaborate on core banking package for wealth management
Today, Light Frame SA, a Swiss provider of modern investment operations and portfolio management technology, and Mambu, a global leader in cloud-native core banking, have announced a strategic partnership delivering a next-generation, fully integrated core banking solution tailored to the private banking and wealth management industries. 0 The partnership comes at a critical moment as wealth managers and private banks adapt to evolving client expectations, growing regulatory complexity, and increasing pressure on profitability. By combining Mambu's leadership in cloud-native core banking and extensive global operational footprint with Light Frame's sophisticated investment operations and portfolio management technology, the collaboration offers a distinct advantage to banks as they shape and execute their strategy. 'Mambu's entry into private banking alongside Light Frame marks a material step toward modernizing a sector that has historically seen limited innovation,' said Cenk Bozal, Region Manager DACH at Mambu. 'With over 260 live customers across 65 countries, Mambu is uniquely positioned to partner with the industry to realize the transformational value of a modern, proven core.' The core banking market is projected to exceed $65 billion by 2032, growing annually at 18.6%, according to Fortune Business Insights. The wealth management sector remains underserved by legacy technology, resulting in high operational costs and constrained innovation. The Mambu x Light Frame partnership presents a timely and transformative solution for institutions seeking modern alternatives that are secure, compliant, and built for speed and scalability. 'Over the past decade, Mambu has been at the forefront of core banking innovation, though our efforts have largely focused outside the Wealth industry,' said Leon Stevens, Head of EMEA at Mambu. 'We are now pleased to extend that innovation to private banks, wealth managers, brokerage banks, and WealthTechs as they modernize or start their operations. By bridging the gap between investment operations and core retail banking, the new solution empowers Wealth institutions to: Deliver seamless, end-to-end banking and investment experiences Accelerate implementation timelines and reduce IT complexity Integrate efficiently with third-party platforms Drive productivity and automation through intuitive interfaces and modern architecture Ensure resilience, compliance, and scalability through a cloud-native infrastructure 'When we set out to build a modern Swiss private bank, we searched for a core system that could deliver sophisticated wealth services while embracing the advantages of new technology. It didn't exist,' said Schuyler Weiss, CEO of Light Frame and former founder and CEO of the Swiss bank Alpian. 'That experience led to Light Frame. Today, in partnership with Mambu, we're offering a new benchmark—an end-to-end solution that's fast to implement, intuitive to use, and purpose-built for the high-touch, tailored services that define private banking.'
