Cloud banking platform Mambu has acquired Numeral, a payment technology provider, as part of its long-term expansion plans.
This move is expected to bolster Mambu’s position in the market by catering to a broader audience and driving new value, which will likely increase its overall market share.
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The integration is claimed to help banks, fintechs, and non-financial service firms manage payment workflows seamlessly.
Mambu CEO Fernando Zandona said: “This acquisition marks a considered move to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio. Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs.”
Established in 2021 and headquartered in Paris, Numeral provides a universal gateway for financial institutions to connect with partner banks and access payment schemes.
With a payment’s hub, Numeral automates payment processing, handling over €10bn annually. The company has also expanded its presence into the UK.
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By GlobalDataNumeral’s partnerships with leading European banks such as BNP Paribas, Barclays, HSBC, and ABN AMRO are also set to benefit Mambu, enhancing its network and capabilities.
Numeral co-founder and CEO Édouard Mandon said: “Payments are at the heart of how companies do business around the world, yet they remain trapped in systems designed decades ago, unfit for the ongoing instant payments revolution. This is a problem that Mambu intimately understands having helped banks and financial institutions worldwide to migrate from rigid, traditional core systems to agile and adaptable cloud infrastructure.
“Bringing together our dedicated payments technology with Mambu’s leading cloud banking platform and global customer base, we can enable more companies to make their payments future-proof and ever-compliant while eliminating hidden payment complexity at scale.”
