Mambu to Offer Vietnam’s Digital Bank Cake Cloud Banking Solutions

The market leading SaaS cloud banking platform Mambu announced recently that it has been selected by Vietnam’s new digital bank Cake to help the bank scale business towards offering a full suite of digital banking services.

Launched in January 2021, Cake is a collaboration between Be Group, the organisation behind Vietnam’s ‘Be’ ride-hailing app, and VPBank, one of Vietnam’s leading banks. All products and services offered by Cake are fully licensed by the State Bank of Vietnam through VPBank, with beFinancial (a part of Be Group) looking after the operations of the new digital bank.

According to the official press release, the new Vietnamese bank plans to provide a superior customer experience. Hence, it needs to enable the rapid launch of flexible and unique products, as well as shorten processing times for transactions.

“We are very proud to have been selected by Cake as it looks to expand its business into full service digital banking, and improve access to financial services for young Vietnamese consumers. At Mambu, we are committed to enabling financial inclusion in Vietnam by offering faster time to market and flexible scalability, and Cake’s new digital banking solution will have a tangible impact on this issue,”Pham Quang Minh, General Manager Vietnam at Mambu, stated.