Mambu Reviews

Name: Mambu
Brand: Mambu
Rating: 4.0 (5 reviews)

Vendor: Mambu

4.0 out of 5

5 reviews
100% willing to recommend

What is Mambu?

Mambu is a versatile fintech platform praised for its customizable nature and cloud-native architecture which enhances scalability and deployment speed. It is utilized for core banking, microfinance, digital banking, and payment processing, delivering robust API integration and real-time data processing capabilities. Users report significant improvements in organizational efficiency, productivity, and reduced operation times.

Mambu is the #1 ranked solution in top Core Banking Software solutions. PeerSpot users give Mambu an average rating of 8.0 out of 10. Mambu is most commonly compared to Thought Machine: Mambu vs Thought Machine. Mambu is popular among the large enterprise segment, accounting for 60% of users researching this solution on PeerSpot. The top industry researching this solution are professionals from a financial services firm, accounting for 25% of all views.

Featured reviews

Samuel Adebunmi

Software Development Engineer at Renmoney

Mambu has improved the banking service because it reduced all processing. The APIs make it very easy for us to keep track of our clients at different stages of the loan status - those currently defaulting, those in bad debt, or whose savings accounts have gone dormant. This enables us to offer opportunities to clients who have performed well over the years. Most importantly, MongoDB Atlas consolidates these reports. With everything in one place, fetching reports and client information becomes straightforward. For instance, when supervisors must fetch all clients defaulting for credit release, we seamlessly integrate with SysTrack and CRC, critical systems in Nigeria. Mambu makes it much easier to fetch client data and integrate it with credit bureau APIs for record-keeping and reporting. It's a great solution for financial institutions. Overall, I rate the solution a nine out of ten.

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Oladapo Oyebanji

Senior PHP Developer at Renmoney Microfinance Bank

Some months back, we contacted technical support for the solution. We were trying to install applications on mobile for admin staff using Mambu. Specifically, we needed the application to support serial development, so we containerized our applications using Docker and Kubernetes. The application wasn't processing fully on mobile, and there was an issue with SSL not attaching correctly, causing bypass problems.

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Rugveda Deshpande-Paranjape

Application Developer at IBM

Mambu has many APIs that calculate complex functionalities in loan repayment, like the amount of each EMI. You specify the number of payments, and they calculate it on review. This is difficult to build yourself, but getting it from Mambu and working with it is much easier. Calculations with Mambu are far better than creating something yourself.

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Mambu mindshare

As of December 2024, the mindshare of Mambu in the Core Banking Software category stands at 19.0%, up from 18.4% compared to the previous year, according to calculations based on PeerSpot user engagement data.

Core Banking Software

Key learnings from peers

Valuable Features

One of the most respected aspects of Mambu is its highly customizable nature, allowing institutions to tailor banking and lending processes to fit specific requirements. The cloud-native architecture is greatly appreciated because it ensures scalability, flexibility, and decreases the need for heavy IT infrastructure, thus facilitating rapid deployment and updates.

Users often highlight the platform's robust API, which seamlessly integrates with other systems and services, providing an interconnected financial ecosystem. The real-time processing capability of Mambu is frequently noted, enabling instantaneous financial transactions and data analytics, which is crucial for dynamic market responsiveness.

"The best feature of Mambu is its capability to analyze clients. It is particularly useful for banking and financial institutions when making loans. You can easily see a portfolio with active clients and all relevant details. It is also easy to learn."
"The product's initial setup phase is very easy. The tool is very user-friendly."
"You can write your app and the web application and create them manually. Instead of opening your application and doing something else that you want to do, you can add everything, including the details, in one place."

Room for Improvement

The customization options are somewhat limited, which can be restrictive for businesses seeking highly tailored solutions. Users have suggested an enhancement in the configurability to cater more effectively to specific needs. Although Mambu provides a robust cloud banking platform, the reporting features could be enriched to offer deeper insights and more flexible report generation capabilities. The user interface, while generally user-friendly, could benefit from being more intuitive, thereby reducing the learning curve for new users. There have been calls for stronger customer support, with faster response times and more extensive assistance to address user concerns and issues effectively.

"The solution takes some time to open."
"There are some issues with Mambu as a tool used for core banking systems."
"The documentation could be improved."

ROI

Mambu usage has led to significant financial returns and operational efficiency benefits. Many users have noted improved process automation and a reduction in administrative overhead, leading to cost savings and enhanced profitability. The flexibility and scalability provided by Mambu have also enabled businesses to expand their services and reach, contributing to revenue growth.

Pricing

Users generally find Mambu's pricing model to be competitive and reasonable, especially given its features and cloud-native advantages. The upfront costs for setup are considered to be low compared to traditional legacy systems, which many appreciate for their budget-friendly aspect. Regarding licensing, users have expressed satisfaction with its flexibility and scalability, allowing them to adjust based on their specific business size and needs. This aspect is particularly highlighted as beneficial for both small startups and larger enterprises looking to adapt and scale without excessive initial costs.

"Mambu's pricing is medium."
"As a core banking system, the tool is cheap."

Popular Use Cases

The primary applications of Mambu predominantly revolve around its role in the financial technology sector. First, it is widely utilized for core banking operations, allowing institutions to efficiently manage accounts, loans, deposits, and transaction processing.

Mambu is employed in the microfinance industry where it helps facilitate lending and borrowing activities, supporting various microfinance products and services.

It serves as a platform for digital banking, assisting in the creation and management of personalized customer experiences across mobile and online channels.

Mambu is used for payment processing integration, enabling seamless connections to various payment gateways and facilitating faster and more secure financial transactions.

Service and Support

Customers generally commend Mambu for its responsive and helpful customer service and support team. Most users report experiencing quick and effective assistance when facing issues or needing help with the platform.

Deployment

The initial setup of the Mambu is user-friendly and fairly smooth, although it requires a certain level of technical expertise. Users note the flexibility and configurability of the platform, which allows for customization to specific banking and financial service needs. The cloud-native approach of Mambu facilitates quick implementation and integration with other systems, although some users highlight the need for comprehensive planning and clear requirements beforehand to maximize the efficiency of the setup process.

Scalability

Users have praised its flexibility and ability to efficiently manage increasing workloads or expanding customer bases without significant performance degradation. The cloud-native platform of Mambu enables users to easily adjust resources to meet growing demands, making it suitable for businesses of various sizes looking to scale operations.

Stability

Users generally perceive the stability of Mambu's solution as strong and reliable. They often mention that the platform ensures consistent performance and demonstrates robustness in handling various financial processes.

These insights are based on the in-depth reviews provided by peers to help you make a better buying decision.