Mambu, a core cloud banking platform, and Avenga, a 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.”
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 by Microsoft 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 “launch its financial products, delivering modern banking experiences while maintaining full compliance with Nordic financial regulations.”
Bo Andersson, Chief Information Officer, 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, Mambu:
“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.”
Marginalen Bank joins a 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 banking experiences today while staying future-ready for tomorrow.”