Central American fintech CashPak leverages Mambu to improve payment services
CashPak has chosen the cloud-based core banking platform of Mambu to support their services and enable faster and more efficient payments involving interbank and international transfers, collections and remittances.
CashPak, a Nicaragua-based financial technology company, operates through a financial app that allows consumers, merchants and businesses to receive, transfer and spend with flexibility, in addition to a digital-first approach.
On the Mambu cloud banking platform, CashPak can adapt its offers and create new ones, while reducing deployment time and complying with first-class security and information protection protocols.
It will increase CashPak’s transaction capacity as it expands and its quest to strengthen financial inclusion in Central America.
Raúl Madriz, Chief Digital Officer, CashPak, said: “Both our growth and profitability stem from the continuous evolution and speed with which we deliver value to our customers. We decided to modernize our processing platform with Mambu to meet changing customer requirements and lay the foundation for future growth and geographic expansion.
“With Mambu as a strategic technology partner, we can improve our offer and support financial inclusion for the markets we operate in, where historically half the population has gone without a bank for generations. Together, we look forward to improving the quality of and access to financial services for customers in Central America.”
Juan Pablo Jiménez Isaza, Regional VP, Mambu, Latin America, said: “The composite architecture approach of Mambu frees financial service providers like CashPak to create the ecosystems that best adapt to changing market demands, focusing on customer value rather than back-end technology and infrastructure The partnership will ensure Central American customers better access to ever-improving financial services.
“Access to excellent payment services often acts as a gateway for many to enter the formal financial sector. Best-in-class companies like CashPak must look after the needs of old and new customers. Mambu will support CashPak as it advances its strategy to continue to provide superior customer experiences.”
About CashPak
CashPak is a Coen Group company and the first electronic money institution in Nicaragua with a presence throughout Central America and Mexico.
As a non-bank financial institution, the company offers financial products and services based on electronic money, including sending and paying remittances, paying for services, charging Tarjeta Prepago Mastercard CashPak, as well as payment solutions for businesses and institutions.
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