With a year-on-year growth of more than 120% in Q3 of 2021 and deploying capabilities for N26 neo bank, Raiffeisen Bank, BancoEstado, and ABN Amro, Mambu’s efforts lie in reforming the banking industry as well as in the migration of traditional banking institutions onto more modern tech stacks.
Revolution in the banking industry has led to the birth of various fintech companies providing cloud-based banking solutions and integrated tools for smooth financial operations. G2 data provides a deep insight into the rise of traffic in Financial Services categories centered around core banking software, digital banking platforms, and mobile banking software.
Data insights from G2 illustrate the traffic increase in its Financial Services categories from H1 of 2020 to H1 of 2021. The Core Banking Software category has seen a spike of 95.21%, whereas Digital Banking and Mobile Banking have experienced an increase of 89.52% and 133.51% respectively. This traffic surge in H1 of 2021 is attributed to an increase in the volume of investment deals into players in the financial services sector including fintechs, microfinance, and SMBs looking for financial software products in these categories.
With increasing competition in the financial sector led by the growth of fintechs, a massive banking revolution, and changes in consumer behavior, G2 helps businesses by acknowledging their search for the right financial software capabilities.
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