Intelligent CIO LATAM Issue 22 | Page 71

INTELLIGENT BRANDS // Software for Business

Central American fintech CashPak chooses Mambu to enhance payment services

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 .
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 .” p
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 .
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 .”
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