Mambu Opens New Office in the United Arab Emirates
Abu Dhabi, United Arab Emirates, 9 December 2020 – Mambu, the cloud platform that empowers financial institutions to deliver modern banking, announces its new office in the emirate of Abu Dhabi. As the Middle East and North Africa leapfrog into the digital future, the UAE has quickly become a key market for Mambu.
As a state-of-the-art hub, UAE is consistently evolving and developing the junction of financial services and technology. The fintech solutions that the country supports include mobile banking and cryptocurrency. With the highest number of mobile penetrations globally at 173 percent, the region offers an extensive customer base for digital banking.
The new office, located in Al Khatem Tower at ADGM Square, Al Maryah Island, brings together a wealth of talent and experience to transform the UAE’s fertile market. Abu Dhabi Global Market (ADGM) found that 83 percent of the UAE residents accept adopting and adapting to fintech solutions by non-financial institutions. Additionally, 76 percent trust at least one financial technology company with their money over physical banks. This makes the region optimum ground for digital platforms in fields such as banking and finance.
Miljan Stamenkovic, who has been building Mambu’s presence in the region for a year, will head the office as General Manager of the Middle East and North Africa region. Stamenkovic has a rich history of helping banks and financial services providers implement digital solutions for their business and customers. With over 14 years of experience in the banking, financial services, and insurance technology space, he has deep knowledge of digital banking, customer experience, and omnichannel service delivery.
“Our partners and customers in the GCC region can leverage Mambu’s cloud banking platform and our ecosystem of composable partner solutions to deliver modern banking. We are fortunate to have already received recognition for our work in the region. Our philosophy of building digital attackers’ and neobanks’ future-proof architecture, while enabling them to adopt the latest cloud-based solutions has really resonated in the Middle East,” said Miljan Stamenkovic, General Manager, Mambu Middle East
