Spanish neobank Plazo has closed a strategic partnership with Mambu, the world’s leading cloud banking technology platform.
This alliance allows Plazo to accelerate the development of cutting-edge lending solutions, with access to over 30,000 new product combinations and fuel its expansion to further consolidate as the go-to financial wellness app covering people’s daily purchase, saving and lending needs
Customers will be able to access the new lending products through Plazo Credit S.L.U., a collaborating company created to provide credit once the integration with Mambu is completed.
Mambu’s composable approach offers the Spanish neobank seamless integration with best-of-breed solutions through instant access to a digital ecosystem of interconnected services. The partnership opens up a broad range of new product development configurations that will significantly improve Plazo’s capacity to expand its offering.
After its successful launch in 2021, Plazo aims to further consolidate as one of the leading financial wellness apps in Spain. So far, Plazo has issued over 100,000 Mastercard debit cards. Thanks to the agreement with Mambu, Plazo’s offering will soon include new credit-led products such as BNPL, fractional payments or salary advances.
We’ve reported that Deloitte and Mambu identified five steps for BNPL success in new report.