Mbanq, a Banking-as-a-Service (BaaS) infrastructure provider, received an undisclosed minority investment from existing partner Temenos. In addition to the investment, Temenos also expanded its partnership with Mbanq to enable the latter’s customers to future-proof their banking technology stacks.
Meanwhile, Temenos plans to leverage this investment and partnership to access an incremental market by offering BaaS services directly to consumer brands in the US.
Mbanq offers a Banking-as-a-Service (BaaS) and Credit Union-as-a-Service (CUaaS) platform for financial and non-financial institutions to embed banking services. Banking services covered by the platform include deposit programs, payments, lending, card services, and buy-now-pay-later.
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