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Spanish neobank Plazo has closed its strategic partnership with Mambu, a cloud banking technology platform.
The association accelerates the development of Plazo’s latest lending solutions, enabling it to use more than 30,000 new product combinations, and expand into a financial health app that caters to people’s daily purchasing, saving and lending needs.
Upon completion of the integration with Mambu, customers will be able to access new loan products through Plazo Credit SLU, which was established to provide loans.
Mambu’s adaptive approach allows for the integration of the Spanish neo-bank with the best solutions through rapid access to the digital ecosystem of interconnected services. The partnership opens up a wide range of new product development options, which will significantly improve Plazo’s ability to expand the products it offers.
Alessandro Cheschel, CEO of Plazo, said: “Our partnership with Mambu is critical to completing Plazo’s current offer, which will integrate it into an integral financial health program that allows clients to take full control of their personal finances. Accelerate the development of flexible credit solutions, thus offering customers a comprehensive range of transaction, savings and credit solutions. “
Victor Piano, Mambu’s Southern Europe Regional Manager, said: “Plazo understands that today’s banking is truly customer-centric. It is the only neo-bank in Spain that combines innovative lending solutions to meet the needs of its customers. In order to achieve this, Plazo received Mambu to improve its high-speed operation model, and we are very proud to be a part of their success story. “
Plazo aims to become one of the leading financial programs in Spain after its successful launch in 2021. To date, Plazo has issued more than 100,000 Mastercard debit cards. Thanks to the agreement with Mambu, Plazo’s offer will soon include new loan-driven products such as BNPL, partial payments or salary advances.