Danish challenger Kompasbank goes live with Mambu’s cloud banking platform
Danish business bank Kompasbank has gone live with Mambu’s Software-as-a-Service (SaaS) core banking platform.
The challenger received a banking licence back in March to serve small and medium-sized enterprises (SMEs) in the country.
It claims to be the “first cloud-only bank in Denmark” and says it differentiates itself from the competition through its “fully digital architecture”.
Kompasbank aims to provide SMEs with financing options, savings accounts and advisory services to help them grow and boost local economies.
Carsten Smith, COO at Kompasbank, says Mambu is “the right choice to help us on our growth trajectory” thanks to its “cloud-native, API-first architecture”.
The bank says Mambu’s SaaS banking platform has allowed it to build fast and flexible customer onboarding, loan and deposit processes.
Mambu has experienced a handful of go-lives and won a few selections in 2021 so far.
The German vendor won a pair of digital banking deals in Colombia and Vietnam earlier this month.