What’s the best core banking platform for your business?
Competition in the banking industry is intensifying. Next-generation banks are winning market share by targeting lucrative niches in the value chain, forcing incumbent banks to review their legacy platforms.
The good news is that there are many tools to help banks modernize quickly and efficiently. In fact, more than 65% of surveyed banks are exploring the potential of next-generation alternative banking platforms.
Mambu
As a relative newcomer, Mambu has established itself as a rapidly growing supplier of banking solutions. In the two years since its founding in 2011, Mambu’s platform was adopted by 100 microfinance organizations in 26 countries around the world.
Today, the Berlin-based start-up services over 150 banks, fintechs, and telecom companies with over 14 million end-users. Mambu helps prominent companies like Santander, N26, and Orange to rapidly design, launch, and scale their digital-first banking and lending services.
With a platform built from the cloud upwards, Mambu’s SaaS engine is a powerful alternative to costly and complex traditional core banking systems. Besides its cloud approach, Mambu provides its clients with tools to build, integrate, and launch any lending portfolio.
Oracle FLEXCUBE
10% of the World’s banked population have an account powered by Oracle FLEXCUBE. 600+ financial institutions use the company’s universal banking solution in 140+ countries across the globe.
The comprehensive, interoperable, and modular solution addresses core banking needs, enables knowledge workers, and reduces time-to-market for new products. FLEXCUBE’s front-to-back digital capabilities help financial institutions to innovate and create next-generation digital customer experiences.
With access to advanced automation tools that rely on Machine Learning, the company’s clients can generate better insights and enhance straight-through processing. Oracle FLEXCUBE is ideally suited to help companies jumpstart their digital transformation.
Mambu vs. Oracle FLEXCUBE
| Mambu | Oracle FLEXCUBE | |
| Founded | 2,011 | 1,997 |
| Number of clients | 150 | 600+ |
| Headquarters | Berlin, Germany | Mumbai, India |
| Customer profile | Alternative lenders (p2p, marketplace personal and SME lenders), deposit-taking institutions, and mobile banking providers. | Universal, direct, private, and Islamic banks; financial and lending institutions. |
| Number of end-customers | 14 million | 380 million |
| Number of employees | 200+ | 9,000 |
| Number of offices | 8 | 79 |
| Solutions | Composable banking Cloud banking platform Mambu Process Orchestrator | Core banking software Enterprise limits Collateral management Investor Servicing Financial Services Lending and Leasing |
Leading Alternative Banking Platforms
There are many more worthy next-generation alternative banking platforms competing in the banking services market. SDK.finance and their alternative core banking platform has been particularly successful at leveraging modern tools to help financial institutions modernize their services quickly and easily.
SDK.finance, founded in 2013 and based in Vilnius, Lithuania, offers a highly secure and mobile-ready solution to delight banking customers and take the lead in the open banking world.
SDK.finance alternative banking platform benefits:
The Platform consists of 5 main components: a back-end wrapped in 400+ API endpoints, 3 front-end frameworks, and a web for system management with capabilities in iOS and Android for our clients.
Advantages of software that is built on API-first architecture:
- The speed of releasing new features and functionality is much faster
- The cost of ownership is more economical
- Fewer bugs and more stable products exist
Click here to learn more about the SDK.finance alternative banking platform, its features & functionality, use cases, integrations, and API, security, and used technologies.