Spanish neobank Plazo has closed a strategic partnership with Mambu, a cloud banking technology platform.
This alliance allows Plazo to accelerate the development of cutting-edge lending solutions, with access to more than 30,000 new product combinations and fuel its expansion to further consolidate as the go-to financial wellness app covering people’s daily purchase, saving and lending needs.
Customers will be able to access the new lending products through Plazo Credit S.L.U., a collaborating company created to provide credit once the integration with Mambu is completed.
Mambu’s composable approach offers the Spanish neobank seamless integration with best-of-breed solutions through instant access to a digital ecosystem of interconnected services. The partnership opens up a broad range of new product development configurations that will significantly improve Plazo’s capacity to expand its offering.
Alessandro Ceschel, CEO of Plazo, said: “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”.
Victor Indiano, area manager, Southern Europe at Mambu, said: “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.”
After its successful launch in 2021, Plazo aims to further consolidate as one of the leading financial wellness apps in Spain. So far, Plazo has issued more than 100,000 Mastercard debit cards. Thanks to the agreement with Mambu, Plazo’s offering will soon include new credit-led products such as BNPL, fractional payments or salary advances.