Italy’s Metoda Finance has partnered with German cloud-banking platform Mambu to improve regulatory compliance for Italian financial institutions (FIs) making the digital transformation, a press release said Thursday (Sept. 22).
The collaboration will offer a suite of regulation-driven banking technology solutions, which will be integrated with Mambu’s software-as-a-service (SaaS) banking and business process orchestration platform.
The firms want to offer a product for companies interested in “modern solutions that both comply with local regulations and are purpose-built for agility.”
Mambu Italy Sales Manager Victor Indiano said the partnership will combine the SaaS banking platform with Metoda’s anti-money laundering (AML) monitoring, regulatory reporting and other services.
“The result is an offering that is unique and tailored to the Italian financial services market. We look forward to empowering more financial organizations in the region and to take Italian banking to the next level of the digital economy.”
Metoda Finance Technical Director Vincenzo Farace said the Mambu’s “agile banking platform is a perfect match for our solutions and ensures we can offer a robust proposition for Italian customers that evolves with the pace of their business’ and customers’ needs.”
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Mambu also teamed up with Western Union on a way to offer more digital banking products in Europe, PYMNTS wrote.
Read more: Western Union Partners With Mambu for European Digital Banking
The Western Union digital banking app WU+ was built on Mambu and will integrate a number of features to help with money movement, card management and transaction activity.
Mambu will help Western Union roll out new banking products which can be configured with external applications, and WU+ lets people use a single app to make a new account for spending and saving purposes.
“Our ambition is to provide market-leading financial solutions to our customers. By partnering with Mambu we have built our digital banking products and services starting in Europe with Germany and Romania,” Western Union Chief Data and Innovation Officer Thomas Mazzaferro said in the announcement.
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