Banking technology vendor Mambu has announced a strategic partnership with Canada-based fintech Brim Financial to deliver a new digital banking platform in North America. Through the partnership, the firms aim to enable “faster development” and deliver digital banking solutions and embedded finance products including buy now, pay later (BNPL) and card products. Brim’s platform-as-a-service technology will be integrated with Mambu’s cloud-native banking platform, including its full suite of card capabilities and digital payments features. With the platform, the firms aim to enable customers to bring solutions to market faster and scale their businesses.
Toronto-based Brim Financial provides embedded banking and finance solutions, personal and SMB credit cards, payment solutions and customer engagement and analytics tools. Mambu claims over 200 customers – including banks, lenders, fintechs and financial institutions – and over 50 million end users across Europe, North America, Asia Pacific, the Middle East, and Latin America. The company raised €235 million in a Series E funding round last December, valuing the firm at €4.9 billion. It said at the time it plans to use the funds to continue its global expansion efforts, focusing on 12 key markets and building on strategic partnerships.