Towerbank transitions its core operations to the cloud
Panama’s crypto friendly bank revolutionises its operations and customer experience, in just 10 months with Mambu
- of operations in the cloud
Cloud service provider
TOWERBANK
About the customer
One of Panama’s leading financial institutions, Towerbank brings more than 50 years of experience offering corporate and personal banking services across Latin America. As it scales, Towerbank realised the need to move away from its legacy core system and onto a next generation platform that would support continuous innovation. Mambu was chosen to support Towerbank’s journey as it modernises and becomes a cutting-edge, crypto-friendly bank.
- Established in 1971
- 2016 – Launched mobile banking services
- 2022 – Declares itself crypto-friendly
- 2023 – Builds crypto wallet
The challenge
A gradual and agile transition from legacy
In the midst of the COVID-19 pandemic, facing challenges in differentiation, customer retention, and adapting to market dynamics, Towerbank identified significant limitations in its outdated on-premise core system. With a hard-coded infrastructure that hindered innovation, Towerbank realised that further investment in legacy systems was unsustainable.
Seeking a modern solution, Towerbank aimed for a gradual and agile transformation, avoiding the disruptions of large-scale migrations. The bank sought a partner that could provide a flexible, composable banking approach, enabling seamless integration with existing services and tailored to its specific requirements.
“We chose Mambu because the company is agile and has been from the start. The team has taken very good care of us. We cannot wait to move the rest of our operations onto Mambu, including lending, business banking and more.”
- Mariann Villamizar, VP Technology, Towerbank
The solution
A flexible and scalable digital transformation
Through its partnership with Amazon Web Services (AWS), Towerbank discovered Mambu's cloud banking platform. Mambu stood out for its agility, versatility, and ability to support incremental innovation without costly customizations.
Towerbank appreciated Mambu's lightweight approach, which aligned with its transformation goals. The agile implementation process allowed Towerbank to leverage its in-house team, avoiding the need for additional specialists and driving cost efficiencies. The bank benefited from the flexibility of Mambu’s SaaS model, enabling it to configure top-tier services through an API-first approach.
The result
Growth through flexibility, agility & innovation
In just 10 months Towerbank went live with their new offering. Adopting Mambu, Towerbank has gained greater agility and can now launch products faster, with most of its operations in the cloud, compared to just 5% initially, allowing for sustainable growth and innovation.
This transformation has improved customer experiences and digital engagement, setting Towerbank apart from competitors. By leveraging Mambu's platform, the bank enhances customer interactions with seamless, personalised services.
Download the full case study
Discover how Towerbank is transforming its banking operations and enhancing customer experiences with Mambu.
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