Mambu, a software-as-a-service (SaaS) cloud banking platform, has announced its collaboration with ABN AMRO to support BUUT, a new bank aimed at helping young people manage their finances.
The bank was launched within 12 months.
BUUT offers a range of services within a single mobile application, including a Dutch IBAN account, savings and budgeting features, payments, and cards.
Mambu’s platform underpins the IBAN administration that supports BUUT’s payment and savings accounts.
ABN AMRO has previously introduced other digital ventures, including the business lender New10 in 2016, which also made use of Mambu’s platform.
“With BUUT, ABN AMRO has shown how established banks can leverage a future-ready, cloud-native platform to move with the agility and scale needed to keep up with market needs and the demands of Gen Z and Alpha. We are pleased to expand on our partnership with ABN AMRO and support them to deliver a fresh, digital-first banking experience for the next generation,”
said Mark Geneste, Chief Revenue Officer at Mambu.
“BUUT has the ambition to build the most financially healthy generation ever, and aimed to launch on the shortest possible timepath. As one of our strategic vendors, Mambu has proven to be easy and fast to implement and provides BUUT with a solution capable of scaling fast, a perfect match,”
said Hein ter Braak, Head of BUUT.
Featured image credit: ABN AMRO
