Western Union Partners With Mambu for European Digital Banking

Cloud banking platform Mambu and global money transfer giant Western Union are collaborating to deliver digital banking products to Europe.

Western Union’s digital banking app WU+ was built on Mambu and will integrate a number of features to facilitate money movement, card management, and transaction activity, according to a Thursday (June 9) press release.

With Mambu, Western Union can launch new banking products that can be configured with external applications. With WU+, customers can use a single app to quickly create a new account for spending and saving purposes.

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“Our ambition is to provide market-leading financial solutions to our customers. By partnering with Mambu we have built our digital banking products and services starting in Europe with Germany and Romania,” Western Union Chief Data and Innovation Officer Thomas Mazzaferro said in the announcement.

“The Mambu and Western Union team have come together in a truly collaborative partnership accelerating our financial service ambitions while building a product that can scale and is cloud-agnostic,” Mazzaferro added.

Co-founded in 2011 by Frederik Pfisterer and CEO Eugene Danilkis and headquartered in Berlin, Mambu’s cloud-native platform has 70 million daily users and is used by over 230 banks and financial institutions.

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Western Union’s cross-border money transfer and payments business operates across more than 200 countries and territories and in over 130 currencies. The company’s omnichannel approach aims to connect the digital and physical and it currently collaborates with a huge global retail agent network.

“The industry has reached a tipping point for cloud adoption. Large financial institutions have started a global trend of moving to cloud-native, nimble tech stacks and are becoming part of the ecosystem,” said Danilkis.

“Western Union adopted the cloud because they recognized that FIs of the future need to engage their customers with excellent new products. We are looking forward to seeing Western Union wow their customers with modern and secure banking services,” Danilkis added.