Singapore - July 23, 2019 - Cheers Paytech, the Singapore-based fintech, has partnered with Mambu to provide the core banking technology for all wallet accounts to fuel growth. The partnership will facilitate the backend movement of funds within the Cheers Wallet Engine.
Mambu’s rapid deployment capability and API-first architecture will allow the team to integrate quickly and without the need for complex coding or underlying infrastructure maintenance.
Cheers Paytech’s Chief Executive Officer, Gregor Arn said: “At Cheers Paytech we pride ourselves on providing customers with the best, most innovative technology available. We chose Mambu to provide our core banking system because their capabilities are fully aligned with our model, goals and culture.”
Cheers Paytech’s Chief Growth Officer, Arish Khajotia added: “We are in the privileged position as a startup to have a customer pipeline filled through to the end of 2020 and beyond, representing a total potential wallet user base of over 100 million wallets as of today. The Cheers Wallet Engine, powered with Mambu, will further enable the strong adoption by those currently suffering from financial exclusion to not only access mobile payments, but to become an active part of the wider global digital economy.”
Mambu’s cloud-native and API-first architecture will help the team to deploy within a matter of months, enabling a composable solution that allows Cheers Paytech to be as agile as possible in adapting to customer needs as they change.
Myles Bertrand, Managing Director, APAC, Mambu remarked: "The financial sector is leveraging digital technology to meet the changing expectations of customers and markets as well as reach underbanked and unbanked consumers. As the leading SaaS banking engine, Mambu is aligned to Cheers Paytech’s innovative model and culture, and supporting agile and quick integration and we look forward to working closely with them to help customers across the region.”
About Cheers Paytech
Cheers Paytech is one of Asia’s top fintech startups for wallet infrastructure. The company started out by building apps with context-based payment features. It became increasingly challenging to move small amounts of money between people as their user base grew internationally. This struggle is what led the team to realise the need for a payment solution catering to the borderless app world. As they started to design the regulatory framework and develop the technology layer, the team were frequently approached by other apps who faced similar challenges. Today, Cheers Paytech is helping businesses to connect their app users financially, irrespective of where they live and their level of financial inclusion.