19 December 2023, Dubai (UAE) – Trigger Software presents a Neobank Engine solution powered by Mambu, a leading cloud banking platform, to enable the rapid launch of digital neobanks.

By default, Mambu is a cloud-native, API-driven cloud banking platform. Mambu offers composable banking architecture with a single code base, publicly available APIs, and regular releases. Mambu has 260+ customers across the globe, serving 100M end-users in 65 countries.

Nowadays, a lot of companies worldwide are planning to launch a digital neobank. These are banks, retailers, telcos, and greenfield fintech startups. In order to launch a digital bank, you must choose the key components: core banking platform, middleware, front-end, card processing, CRM, back-office, KYC solution, and other parts. This process takes a lot of time and effort because you need to align with multiple stakeholders.

What if there was an end-to-end solution with all the necessary components already pre-integrated?

We’ve been working with Mambu for a long time. At Trigger Software, we developed 300+ pixel-perfect screens and 150+ ready-made banking business processes, like KYC, onboarding, payments, remittances, loans, deposits, cards, cashback, referral bonuses, and others that can run on top of Mambu. Today we are proud to present all this stuff perfectly pre-configured and packaged into the end-to-end solution that we call Neobank Engine powered by Mambu.

Max Bondar, Founder & CEO at Trigger Software.

Neobank Engine features overview

1. Onboarding

Customers can experience hassle-free onboarding in less than 10 minutes. A new account will be created in Mambu with quick access to a range of digital banking services. All from the mobile device and in accordance with the compliance rules of the bank.

2. Account Opening

Mambu allows you to easily open a bank account through a mobile app, without the need for physical paperwork or branch visits.

3. Credit and Debit Cards

A physical and virtual credit or debit card can be issued in Mambu with a few clicks during the onboarding process. Users are able to start making purchases online and at physical stores immediately. Also, clients can add cards to Apple Pay and Google Pay wallets to enjoy the benefits of contactless payments.

4. Transactions history

Mambu allows users to keep track of their financial activities with ease, accessing a comprehensive record of transactions filtered and displayed by categories or dates.

5. Account and Card management

Clients can have full control over their credit and debit cards with the intuitive card management features, easily get account statements, set spending limits, and manage card security. Also, Mambu allows the setup and change of pin-code, CVV-code, block, and unblock the card at any time.

6. Deposits

Mambu is a perfect solution to allow clients to deposit funds directly into a digital banking account, ensuring that money is safe and easily accessible. A deposit account enables users to save money and earn interest on their deposits.

7. Loans

Mambu supports all types of loans with a quick approval process and flexible loan management options. Installment, cash-to-card, cash-to-account, consumer loans, mortgages, overdrafts, credit limits, and other types of loans are supported.

8. Cashback

Easily configure rewards rules and allow customers to save money while they spend receiving money or bonuses cashback.

9. Referral program

Allow clients to share the benefits of the digital bank with their friends and family, and earn rewards for every successful referral.

10. Personalized product offerings

Easily configure any products in Mambu. Allow users to discover a wide range of personalized financial products tailored to their current needs. This includes AI-powered recommendations for financial products and services based on user behavior and preferences, helping clients to make better financial choices.

11. Money Transfers

Configure instant and low-cost domestic and international money transfers making it convenient for users to send and receive funds. Use accounts and cards configured in Mambu to initiate the necessary transfers.

12. Stories

Stories allow sharing of news, offers, and promotions in a visually appealing and modern design, exactly like millennials enjoy consuming on Instagram.

13. Foreign Currency Exchange

Convenient and cost-effective currency exchange services for international travelers or users making cross-border transactions.

14. Profile management

Activate face recognition and biometric authentication features. Manage language settings and design themes, setup preferred communication channels. Mambu works perfectly as the single source of truth about the customer profile.

15. Customer Support

Access to customer support through various channels, such as chatbots, live agents in messengers, or phone support. Flexible integration with any external services.

16. Security Features

Robust security measures, including two-factor authentication, biometric login, and real-time transaction alerts, to ensure the safety of user accounts and transactions.

Trigger Software’s Neobank Engine powered by Mambu also allows easily integration with the necessary components if the customer banks decide to get them from 3rd parties: KYC and identity verification, credit risk and scoring, AML customer screening and monitoring, regulatory reporting, loan collection and recovery, transactions monitoring, data analytics, CRM, etc.

Finbold research shows over 40 new digital banks emerged in the last year globally despite the economic meltdown. Data indicates that as of October 2022, Europe was home to 97 neobanks, the highest number worldwide, representing a growth of 27.63% from 76 recorded in October 2021.

A report by strategy consultancy Fincog states that digital neobanks are now serving a combined customer base of 1 billion people.

Trigger Software’s Neobank Engine powered by Mambu is a perfect choice for companies who want to launch their digital neobank at a fixed cost and fixed time.

With Mambu, the launch is possible at the unseen speed of 3 months. With other banking platforms, launches are possible in 6 months. Projects that used to take years and millions of dollars of investments can be done 10x faster and 10x less expensive, relying on the Neobank Engine and Trigger Software capabilities.

The neobanking space is booming. It is easy to get lost among dozens of vendors and hundreds of necessary components. At Trigger Software we solve this problem for our customers. We’re a reliable technology partner that has already tested all the components for the successful digital bank launch.

Max Bondar, Founder & CEO at Trigger Software.

Trigger Neobank Engine ensures that Android and iOS apps are adapted to the bank’s brand book, style guide, and tone of voice. Trigger Software developed an interface constructor that allows to easily edit the front-end components and play with fonts, colors, images, and other parts of the design system.

The best financial brands in the world, such as N26, Western Union, Raiffeisen Bank International are powered by Mambu's cloud banking platform. In partnership with Trigger Software, we enable customers to build great banking experiences with the unprecedented speed, quality and cost effectiveness.

Miljan Stamenkovic, General Manager Middle East & Africa at Mambu.