InnBucks Partners with Mambu to Accelerate Digital Banking Growth Across Africa
InnBucks MicroBank is making significant strides in the financial technology sector by partnering with Mambu, a cloud-native banking platform. This collaboration marks a pivotal shift as InnBucks transitions from a digital wallet service to a comprehensive digital banking solution in Zimbabwe. With its established presence in the FinTech landscape, InnBucks aims to enhance its offerings and better serve its growing customer base.
Transitioning to a Full-Service Digital Bank
Founded in 2022 under Simbisa Brands Limited, InnBucks has rapidly evolved from a wallet-based service to a major player in Zimbabwe’s financial ecosystem. The company now offers a variety of financial services, including:
- Personal and business banking
- Digital payments
- Lending services
- Cross-border remittances
With over 500 outlets across the country and a customer base of approximately three million, InnBucks is poised for significant growth.
Leveraging Mambu’s Cloud-Native Platform
As part of its growth strategy, InnBucks is adopting Mambu’s composable cloud-native platform, which will be supported by infrastructure provided by Amazon Web Services (AWS). This partnership is designed to offer:
- Enhanced security and scalability
- Operational efficiency
- The ability to swiftly launch new products and services tailored to customer needs
Strengthening Position in the African FinTech Landscape
By joining the ranks of other Mambu-powered institutions in Africa, such as TymeBank and Platcorp Holdings Limited, InnBucks is solidifying its position among agile FinTechs and lenders modernizing financial services across the continent.
Statements from Leadership
InnBucks’ Chief Technology Officer, Langa Mlalazi, expressed enthusiasm about the partnership, stating, “Partnering with Mambu marks a turning point in our journey to becoming a full-scale digital bank. Their platform will allow us to scale rapidly, reduce operational costs, and most importantly, offer innovative financial products that meet the evolving needs of our customers across Africa.”
Leon Stevens, Mambu’s Market Sales Director for EMEA, highlighted the significance of this collaboration by saying, “This partnership underscores Mambu’s commitment to supporting high-growth financial institutions in emerging markets. We are proud to play a key role in InnBucks’ digital transformation and expansion across Africa.”
As InnBucks prepares for its ambitious growth, the integration of Mambu’s platform will enable it to meet the evolving expectations of a digital-first customer base, ensuring long-term sustainability and success in the dynamic financial landscape.
For more information about digital banking trends in Africa, visit The World Bank.
