ARTICLE
The year in review: How 2024 was all about enhancing customer experience and sustainable growth
19 December 2024
As we reach the end of 2024, it’s the perfect moment to look back on a year shaped by collaboration, innovation and growth. If one word could define this year, it would be together.
Together with our customers, we’ve worked to deliver exceptional experiences for their customers. And together with our partners, we’ve found ways to move faster and more effectively, building on the progress we made over the past year.
To support that idea even further, our recent acquisition of Numeral and its cloud-native payments platform will go a long way to provide a seamless experience to accelerate time to market and future-proof payments.
This blog is about more than celebrating the milestones we’ve reached; it’s about exploring the shared journey that brought us here. So, as we look back on 2024, let’s dive into the innovations, collaborations and progress that are paving the way for a stronger, more inclusive future.
A trusted partner to grow your business
Mambu’s platform has become a critical powerhouse for financial institutions worldwide. Our technology supports 114 million end clients and nearly 200 million API calls every day, powering seamless operations and creating new opportunities for our customers.
Several banks, fintechs and lenders went live on our platform in 2024 (many of them in less than nine months) and serve as tangible proof of our composable approach to cloud banking. Moving forward, these firms will have the scalability, flexibility and innovation they need to grow even more in 2025 and beyond.
- Deposits. BridgeFund tapped Mambu to launch deposit services in order to expand its account volumes and product offerings with reliability and ease.
- Digital Islamic banking. In Malaysia, Bank Muamalat partnered with Mambu and Google Cloud to deliver personalised digital Islamic banking services.
- Digital bank launch. Leveraging Mambu’s cloud-native platform, INDEXO launched a full-service banking experience in under a year, bringing in 10,000 customers in just the first month.
These partnerships are just a few examples demonstrating the trust and collaboration at the heart of Mambu’s mission. They also highlight the transformative impact our platform delivers, enabling institutions worldwide to innovate and grow while creating exceptional experiences for their customers.
It’s no surprise that Mambu was recognised as a market leader in 2024 by several analyst firms.
Leading the way with new and improved product features
In the past year, we introduced a multitude of new features across lending, deposits, cards, payments and our core platform. We put focus on areas that are reflective of our customers needs and where we think the market is headed holistically.
For our Lending customers, we created flexible loan management tools to help you meet the unique needs of your customers.
- Customisable repayment schedules for DBEI loans means lenders can now offer tailored products that align with individual borrowers’ financial needs.
- We also improved interest rate management via semi-annual compounding to streamline interest calculations, keep you compliant with regulatory requirements and offer your customers reliable and hassle-free interest management.
In August 2024 we have launched Mambu Functions on AWS. Using Mambu Functions, you can customise your products by injecting your own logic into business processes. This year, we added some improvements to Mambu Functions:
- Automated Early Repayment Charges (ERC), ensuring fees for early mortgage repayments are applied fairly and transparently. Combined with dynamic daily penalty calculations based on arrears rates, these updates simplify complex financial processes, giving both lenders and borrowers peace of mind.
- With Mambu Functions’ event-driven capabilities, maturity instructions—like rollovers, payouts, or closures—can now be captured and automated within the platform. Automation means less manual intervention and a smoother experience for your customers.
We also made key updates to make our Platform and Core Services faster, smarter and more secure to make your operations smoother and deliver a better experience for your customers.
- ‘Mambu Extract’ now provides near real-time data access, while improved migration tools like parallel table imports and enhanced cloning make scaling and integration easier.
- You can now use Mambu Functions to automate tasks and simplify workflows, giving you more control and flexibility. Security upgrades, including granular admin permissions, IP whitelisting and 2FA ensure your data stays secure and compliant.
- The redesigned Customer Service Portal is now more intuitive, with faster search, smarter file handling and new language support. We’ve also added Carbon Footprint Reports to help meet ESG goals and introduced quarterly product roadmaps to keep you informed.
Fintech innovations that matter, with voices that matter
Inclusivity has been a major focus for us in 2024, not just in the financial solutions we provide but also within our own organisation. To ensure our impact resonates in every market, we prioritise incorporating diverse voices into everything we do.
One of our proudest achievements this year was increasing gender diversity within our team. We welcomed many new Mambuvians to the team this year, and managed to increase the percentage of women at Mambu. An effort which aligns with broader challenges in the financial sector. In 2024, only 16% of venture capital funding in the UK went to female-led startups, highlighting the urgent need for greater equity.
At Mambu, we’re determined to lead by example, fostering inclusion both within our company and across the wider fintech ecosystem. As we move into 2025, our commitment to innovation, collaboration and inclusivity remains steadfast. We’ll continue to strengthen our partnerships, advance our product offerings and strive to build a more inclusive industry.
Thank you to our customers, partners, and Mambuvians for making 2024 an extraordinary year. Together, we’ve shown what’s possible and we can’t wait to see what we achieve in 2025.