Temenos Expands the Collaboration with Mbanq to Accelerate Banking-as-a-Service in the US

Temenos announced that Mbanq, one of US's leading Banking-as-a-Service (BaaS) providers, has expanded its relationship with Temenos to accelerate BaaS adoption in the US.

The agreement deepens the companies' collaboration after last year's launch of a joint Credit Union as-a-Service offering. Temenos has also made a minority investment in Mbanq to capture the BaaS market.

Mbanq is a leading BaaS provider in the US, one of the fastest-growing BaaS markets in the world. Temenos and Mbanq offer an end-to-end BaaS infrastructure including regulatory support to help FinTechs launch in just a few months and with a cost-effective, pay-as-you-go model.

This partnership opens up the opportunity to target mid-sized banks in the US, enabling them to not only launch BaaS services such as deposits, credit cards or Buy Now Pay Later, but also future-proof their technology stacks by kicking off an incremental core banking renovation. 

Max Chuard, Chief Executive Officer, Temenos, said:"We are excited to expand our strategic partnership with Mbanq and deliver an end-to-end BaaS technology proposition. This move will extend Temenos' target addressable market by opening up a new channel to offer BaaS services directly to consumer brands, an incremental market to our business."

Vlad, Lounegov, Chief Executive Officer, Mbanq said:"We are delighted to expand our partnership with Temenos. Powered by Temenos open platform, Mbanq expands its BaaS value proposition across the entire spectrum of embedded finance, from concept to delivery to operations. Mbanq enhances its technology stack to offer embedded finance at scale to any e-Commerce brand."