Plazo, a Spanish neobank, said on Wednesday that it arranged a partnership with Mambu, a cloud banking technology platform. According to the press release, Plazo will enable access to over 30,000 new product combinations and fuel its expansion.
The new lending products will be available to customers through Plazo Credit S.L.U., a collaborating company created to provide credit once the integration with Mambu is complete. “The partnership with Mambu will be key to complete the current offering of Plazo, thus further consolidating it as the integral financial wellness app that will allow customers to gain full control over their personal finances. Leveraging Mambu’s disruptive technology and ecosystem, we will now be able to speed up the development of flexible lending solutions, thus offering customers a full-range service combination of transactional, saving, and credit solutions,” Alessandro Ceschel, CEO of Plazo, commented.
The Plazo app aims to further consolidate its position as one of the leading financial wellness apps in Spain following its successful launch in 2021. The Plazo platform has issued more than 100,000 Mastercard debit cards to date. In addition, BNPL, fractional payments, and salary advances will soon be part of Plazo’s offering, thanks to its partnership with Mambu.
“Plazo understands that today’s banking is about being truly customer-centric. They are the only neobank in Spain combining daily banking with innovative credit solutions adapted to their customers’ needs. To succeed in the fast-paced financial world of today, Plazo adopted Mambu to boost its high-velocity operating model and we are very proud to be part of their success story,” Victor Indiano, Area Manager, Southern Europe at Mambu, pointed out.
Sentinels Solution in Dutch Neobank
In other news around the neobanks landscape, Sentinels, a regtech company, recently worked with Dutch neobank Brand New Day to enhance its anti-money laundering (AML) controls.
With the integration of the regtech solution, the neobank will save resources on automating the development of client risk profiles, proving the neobank’s compliance provides a clear view of customer activity.