Latest news with #MarginalenBank
Yahoo
11-06-2025
- Business
- Yahoo
Marginalen Bank completes migration to Mambu's cloud banking solution
Mambu, a core cloud banking platform, in collaboration with Avenga, a system integrator, has completed the migration of Marginalen Bank from its legacy core banking system to Mambu's platform. This transition, which took 13 months, enables the bank to enhance its offerings for both consumer and business deposits while adopting a modern banking framework. The migration to Mambu's API-driven core banking platform, supported by Microsoft Azure Cloud, has allowed Marginalen Bank to replace outdated systems. This shift is expected to improve the bank's agility, scalability, and cost-effectiveness. The new cloud-native architecture facilitates the rapid launch of financial products, ensuring compliance with Nordic financial regulations. Avenga banking and financial services SVP Peter Stros said: 'Successfully migrating a bank's core system in just 13 months is a highly complex process, requiring deep expertise in cloud-native architectures, regulatory frameworks, and seamless integration across a bank's ecosystem.' Avenga's involvement was key in the project, overseeing the decommissioning of the legacy core banking system and establishing a fully integrated, cloud-first architecture. The initiative included comprehensive data migration and integration across various components of the bank's ecosystem, such as Data Warehousing (DWH), Core Banking System (CBS), microservices, and local third-party providers. Marginalen Bank chief financial officer Bo Andersson said: 'Our goal has always been to simplify our customers' everyday financial lives, and to do so, we need a strong, scalable infrastructure. 'Mambu's composable banking approach perfectly complements Marginalen's technology strategy. We've been able to seamlessly migrate to the modern core and future-proof our technology.' Marginalen Bank is now part of a growing number of Scandinavian financial institutions utilising Mambu's SaaS cloud banking platform. Other banks in this group include Nordiska, based in Stockholm, and Denmark's Kompasbank. Established in 2010 after acquiring Citibank's Swedish consumer bank, Marginalen Bank provides a diverse range of financial services for individuals and businesses. In February this year, Ibercaja Banco partnered with Mambu to launch a new consumer finance entity, set to roll out in phases starting early this year. "Marginalen Bank completes migration to Mambu's cloud banking solution" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Finextra
10-06-2025
- Business
- Finextra
Sweden's Marginalen Bank migrates to Mambu core
Mambu, the leading core cloud banking platform, and Avenga, a leading system integrator, have successfully migrated Marginalen Bank, an innovative digital bank in Sweden from its legacy core to Mambu in just 13 months achieving rapid time to market for its new consumer and business deposits and offering a future-ready banking approach. 0 Founded in 2010 following the acquisition of Citibank's Swedish consumer bank, Marginalen Bank believes that as many people as possible should have access to simple and clear financial products. Marginalen Bank provides a broad range of financial services for individuals and businesses, and is committed to evolving in line with their needs and the rapid technological development in the market. By migrating to Mambu's API-driven, core banking platform underpinned byMicrosoft Azure Cloud Marginalen Bank has replaced its legacy systems, significantly improving its agility, scalability, and cost - efficiency. The cloud-native architecture now allows the bank to rapidly launch its financial products, delivering modern banking experiences while maintaining full compliance with Nordic financial regulations. Bo Andersson, Chief Information Officer at Marginalen Bank said, 'Our goal has always been to simplify our customers' everyday financial lives, and to do so, we need a strong, scalable infrastructure. Mambu's composable banking approach perfectly complements Marginalen's technology strategy. We've been able to seamlessly migrate to the modern core and future-proof our technology. The collaboration with Mambu and our long-term technology partner Avenga has been seamless, allowing us to migrate to the cloud and modernise our consumer and business deposit offering and we're excited about the opportunities it brings as we grow in the market.' Mark Geneste, Chief Revenue Officer, at Mambu, commented: 'In today's financial ecosystem, the core banking platform is the foundation on which all innovation is built and Nordic banks are actively seeking to upgrade. However many question whether there are viable alternatives available in the region. The successful go-live of Marginalen Bank with Mambu underscores that change is not only possible—it's happening. By working closely with our extensive ecosystem of partners, Mambu is transforming the Nordic banking landscape, proving that Mambu is a mature and future-proof alternative for banks looking to break free from legacy systems. We're thrilled to see Marginalen bring their vision to life on Mambu and look forward to supporting their journey of growth and innovation.' Avenga played a crucial role in the project, leading the decommissioning of Marginalen's legacy core banking system and ensuring a fully integrated, cloud-first architecture. The project ensured full data migration and integration across the bank's ecosystem, including Data Warehousing (DWH), Core Banking System (CBS), microservices, and local third-party providers. Peter Stros, SVP Banking and Financial Services at Avenga commented: 'Successfully migrating a bank's core system in just 13 months is a highly complex process, requiring deep expertise in cloud-native architectures, regulatory frameworks, and seamless integration across a bank's ecosystem. As a long-term technology partner of Marginalen Bank, we are proud to have played a key role in modernising their banking infrastructure. Our team ensured a fully compliant, zero-downtime transition by orchestrating data migration, system decommissioning, and integration of core banking services, microservices, and third-party providers. This transformation not only enhances Marginalen's operational efficiency and scalability but also positions them to rapidly introduce new financial products in response to market demands. At Avenga, we specialise in delivering high-impact core banking modernisation, and this successful collaboration with Mambu exemplifies how banks can de-risk their digital transformation while accelerating innovation.' Ingmar Boon, Digital Natives EMEA Lead at Microsoft commented: 'The Nordic banking sector is undergoing a significant transformation, with financial institutions modernising their infrastructures to stay competitive and meet evolving customer expectations. Together with Mambu and Avenga, we are helping banks like Marginalen accelerate their cloud transformation, enabling them to scale efficiently while maintaining the region's stringent security and compliance standards. By leveraging Microsoft Azure, Mambu's composable banking platform and Avenga's engineering we help Nordic banks shorten time to market, simplify operations, and drive innovation. This collaboration underscores our shared commitment to equipping Nordic banks with the technology they need to thrive in a digital-first world.' Marginalen Bank joins a growing roster of financial institutions in Scandinavia leveraging Mambu's SaaS cloud banking platform, including Stockholm-based Nordiska, Denmark's Kompasbank and many more. With Mambu, these institutions are empowered to deliver exceptional banking experiences today while staying future-ready for tomorrow.
