Mambu Launches First Shariah-Compliant SaaS Banking Platform in the Market

A new fintech unicorn, Mambu, has announced the launch of the Shariah-compliant version of its Software-as-a-Service (SaaS) banking platform. This is the first cloud-native platform that complies with the requirements of Islamic banking, and caters to the requirements of Islamic banks and lenders. The platform was made available to clients at end-2020.

Why it matters?

Over 1.8 billion Muslims around the globe are underserved in terms of Shariah-compliant solutions to transact with money and Islamic financial institutions are continually looking to deploy cloud solutions to satisfy the demand of tech-savvy clients. Mambu’s platform enables Islamic banks to increase their offerings and deliver personalised services whilst complying with the tenets...