Wallet Engine Ties with Mambu to Boost Wallet-as-a-Service

Singapore-based fintech startup Wallet Engine has partnered with Mambu, to fast-track the development of its innovative wallet-as-a-service offering, which aims to become the go-to solution to embed financial services into any app.

With its cutting-edge, globally compliant wallet-as-a-service, Wallet Engine plans to help solve the issue of cross-border compatibility as well as offer a solution for individuals and businesses wanting to make micro transactions.

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Wallet Engine empowers non-financial organisations to launch their own branded wallets for seamless money transfers between their users, regardless of the dollar amount or country of origin, with its core focus on micro transactions and cross-border capabilities.

Myles Bertrand, Managing Director APAC, at Mambu, said: "Wallet Engine came up with an ingenious solution to a long-held problem, that being, how can people send small amounts of money to each other, across countries, without it costing more than the transaction's value? Now, with their wallet-as-a-service offering, they've made this technology available to other businesses who want to offer their own customers this innovative solution. It's been especially gratifying that this project has been designed, developed and launched right here in Singapore – it's a great indication of the current strength of Singapore's fintech ecosystem."

Wallet Engine's globally compliant wallet-as-a-service is operational in Singapore - with Mambu's powerful, composable platform underpinning the solution, enabling optimum flexibility and speed – and will be rolled out across the wider Asia Pacific region throughout 2022. It can provide the foundation for contextual peer-to-peer payments, micro-finance, and in-app economies, to name a few.

Wallet Engine and Mambu will continue to work together to drive change in Asia Pacific financial services, building on the momentum already built.