Spanish Neobank Plazo Taps Mambu to Expand Lending Products

Spanish neobank Plazo announced that it has entered into a partnership with Mambu, a cloud banking technology platform.

The partnership will enable Plazo to accelerate the development of cutting-edge lending solutions and gain access to more than 30,000 new product combinations, while driving its business expansion.

Upon completion of the integration with Mambu, Plazo will offer its customers new credit products through its collaborating company, Plazo Credit S.L.U.

"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," said Alessandro Ceschel, CEO of Plazo, "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."

This is not Mambu's first partnership with a fintech firm this year. Last month, the banking technology platform partnered with UK Neolender ThinCats​ and North American fintech Brim Financial, respectively. In early April, Singapore-based fintech start-up Wallet Engine​ planed to leverage Mambu's composable platform to provide solutions for small transactions. Also, Global payments-as-a-service (PaaS) provider Change Financial​ announced in February a partnership with Mambu to provide digital banking and payments capabilities in Australian and New Zealand.