INDEXO Bank has announced that it has received its banking licence from the European Central Bank and has started its banking operations in Latvia. Mambu, a cloud banking provider, aims to develop a complete financial suite that includes everything from everyday banking services to lending solutions.

INDEXO took on the task of building its technology stack from scratch. Their mission is to identify solutions that would allow them to launch a wide-ranging and diverse array of financial products. Diverse financial products By using Mambu's core banking platform, supported by Microsoft Azure and integrated by Fintecor, INDEXO Bank has established a strong, composable cloud-native foundation for developing and scaling financial products.

Just over a year into the partnership, INDEXO Bank has launched operations, providing a wide array of financial products and daily banking services, including current and savings accounts, term deposits, credit cards, instant payments, and much more. Cloud-native solutions in traditional banking By leveraging cloud-native architectures, banks can simplify their operations, increase customer experiences, and quickly deploy new services. These solutions assist financial institutions to scale efficiently, reduce costs, and improve security and compliance.

One of the key benefits of cloud-native solutions is the ability to adapt to market changes. With the agility of cloud environments, banks can implement updates and upgrades rapidly, ensuring that they remain competitive in a fast-paced digital landscape. Additionally, cloud-native technologies support real-time data analytics, providing banks with valuable insights into customer behaviour and preferences, which can be used to tailor personalised services.

Furthermore, the integration of cloud-native solutions facilitates collaboration and innovation within the banking ecosystem. By adopting open platforms and APIs, banks can partner with fintech companies and other third-party providers to offer a broader range of services, increasing customer satisfaction and loyalty. Ultimately, the shift to cloud-native solutions represents a strategic move towards modernising banking infrastructure and driving efficiency.

.