Germany’s C24 extends banking service partnership with Mambu

By Gloria Methri

German challenger bank C24 has extended its partnership with Mambu following the initial launch of its greenfield digital retail bank.

Founded by Check24, Germany’s largest online comparison portal, C24 Bank provides secure banking services, along with features to help customers optimise their finances and save money.

In 2020, C24 first partnered with Mambu to launch the greenfield bank. Its deposit offerings went live in just 14 months, and after this collaboration, the bank will continue to run on Mambu’s modern core foundation as it scales.

The partnership with Mambu has enabled C24 Bank to build a product that has gained substantial attention and traction in the German market. With a focus on innovation instead of managing the core infrastructure, C24 can expand its product set and quickly react to market changes and ever-changing customer expectations.

“We are the only bank in Germany which pays interest in all our current account products. Mambu has helped us to provide that. At C24 Bank, we want to provide a unique offering to our customers. We are looking forward to extending our partnership with the aim to serve 1 million customers and to continue to deliver exceptional customer experiences,” said Lasse Schmid, Geschäftsführer (Managing Director) at C24.

Nick Lawler, Market Director, EMEA at Mambu, added, “After five successful years of collaboration, we are thrilled that C24 Bank has chosen to extend our partnership as it continues to build out its deposit products and services. It has been incredible to witness the growth of C24’s offerings, underpinned by Mambu’s cloud banking platform. We have seen how Mambu can simplify and streamline banks’ ability to launch innovative services. We look forward to empowering C24 Bank on its mission to help customers optimise their finances.”

Mambu’s software-as-a-service (SaaS) model and composable approach provide banks with faster time to market and added flexibility compared to legacy core solutions. Running on its modern, cloud-native platform, over 260 financial service providers have transformed their operating models to deliver innovative products for their customer base.