For Edgardo Torres Caballero de Mambu, while in the United States the disruptive wave of the fintechs is observed with caution. In Latin America the digital disruption of the banking system captures the attention of this German supplier of core as a service for the business.
In the context of Fintech Americas 2019, we spoke with Edgardo Torres Caballero, Managing Director Americas of the banking core platform as a service, Mambu. For this German supplier, the Latin American markets, with their 500 fintechs aimed at financial innovation, have become a more seductive niche than the traditionally desirable prospects in the United States market.
Mambu is helping financial institutions to quickly deliver commercial value, accelerating the development of new products and services, in a constantly changing market. For this, they provide a banking core solution based on the Amazon Web Services cloud, scalable for disruptive projects or digital deployments in traditional banks that are transformed to meet evolving digital demands.
“In just a few years, Mambu has positioned itself as a leader in core generation 3, with almost 50 clients in Latin America,” says Edgardo Torres Caballero. Among this group of strategic clients are new services such as Naranja, part of Grupo Galicia, the second largest bank in Argentina. Pay U is one in an operation that has a regional impact from Colombia, or the case of NT26, which is a unicorn of a German bank, which after growing in Europe, is now entering Brazil.
“We mainly serve banks that want to launch, splits that maintain the alternation of traditional models and new models of digital banking, either because they want to expand territorially, or because they want to serve specific segments such as millennials, or specific credit programs for SMB. ” In any case, Mambu can support it all. A wide range of clients from disruptive companies, to the financial segment, microfinance and banks. We all serve it from the Mambu platform.
Latin America promises
For the executive, in terms of fintechs, Latin America gains traction over other mature economies due to the change in the regulator’s perspective. “I’m talking about the cases of Argentina, Brazil and Colombia, which have been open to using public clouds, as is the case with Amazon,” detaches Torres Caballero.
In this fintech ecosystem, innovators are seen as allies of banks, financial or because they are raised disruptive options, in the end are benefiting the end user. He believe that what a bank is looking for is to streamline its business process, launch new offers, think centrally in the needs of customers, have a platform that allows it to evolve and not transition with great costs in the future. All it represents is the great opportunity that puts us at the forefront of the financial market.