CashPak has chosen the cloud-native core banking platform of Mambu to support its services and allow for more rapid and 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, besides a digital-first approach.
On the Mambu cloud banking platform, CashPak can adapt its offerings and create new ones, all while reducing deployment times and adhering to top-notch security and information protection protocols.
It will increase CashPak’s transactional capacities 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 clients. We decided to modernize our processing platform with Mambu to meet changing customer demands and set the foundations for future growth and geographic expansion.
“With Mambu as a strategic technology partner, we can enhance our offering and support financial inclusion for the markets in which we operate, where historically half of the population has gone unbanked 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 composable architecture approach of Mambu frees up financial service providers like CashPak to create the ecosystems that best adapt to shifting market demands, with a focus on customer value rather than back-end technology and infrastructure. The partnership will ensure Central American customers enjoy better access to constantly improving financial services.
“Access to excellent payment services often serves as a gateway for many to enter the formal financial sector. Best-in-class companies like CashPak must attend to the needs of old and new customers. Mambu will support CashPak as it advances its strategy to continue providing 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-banking financial institution, the company offers financial products and services based on electronic money, including sending and paying remittances, paying for services, recharging the Tarjeta Prepago Mastercard CashPak, as well as payment solutions for companies and institutions.
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