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We use Temenos Transact for the whole banking system, encompassing deposits, advances, and investments. Everything is included in the software and serves as our everyday use for banking transactions at both the branch level and head office level. All financial activities related to banking are performed in this software.
The integration with other modules including investments, advances, loans, and other portfolios makes it effective. The whole system is pretty much integrated.
A lot of solutions are in place. We work with Temenos Transact and Outlook for emails, along with some in-house built platforms.
Temenos Transact is a banking software used worldwide. We are an end user and a banking industry utilizing this platform.
We are using Oracle, which is integrated with Temenos Transact. We have an SMS alert system that is integrated, and WhatsApp is integrated with Temenos Transact. You can receive runtime updates regarding your accounts on WhatsApp by using a number. These are the APIs we are using. Since this is a technical matter, an IT department member could answer it in a better way.
There is a dire need to improve the GUI, graphical user interface. It is pretty old-styled and boring.
There are no advanced analytics procedures. Only standard reports are available that we download and perform our analytics from there. We have some integrations with Microsoft Power BI. Any top-level analysis that we require is performed on Microsoft Power BI. No analysis is performed inside Temenos Transact.
It has been five years now.
The benefit is that it is pretty stable. It does not crash the way other banking software that this organization has used in the past.
I do not deal with Temenos Transact's customer service directly, but our IT department does.
Within days, the support does not take much time unless any development is required at their end. If it is a glitch, it is done in hours or days.
The performance is quite good. We have 1,500 branches across the country and are from the banking sector. Things are pretty fine.
The decisions are made at the management level. It is pretty expensive. I do not have any idea about the exact amount, but I know that it is in dollars and is based per user. We have around 6,000 to 7,000 users in Temenos Transact. It is probably pretty expensive.
For meeting purposes, we are using Zoom still, but we are planning to move it to Microsoft Teams in the coming few months.
I do not think there is any new thing that I can share regarding this application. Maybe in a couple of months I will be able to share some more valuable insights because we are in the process of some changes at an organizational level. I gave this review a rating of ten out of ten.
I have used Mambu for the Greenfield implementation of a digital bank called Uno Bank, where I am working as a system integrator for that program. Mambu is one of the core banking systems that we are using. We have implemented the cloud-native core banking Mambu shared services, which was integrated with the front end, Backbase, and other integrations with the payments and card systems.
We have launched in a sequential manner, initially configuring it for the deposit module where CASA and fixed deposit products as well as group savings have been involved. Lately, we have also used Mambu for mortgages, and I found that Mambu is a very quick configurable product which helps us to perform quick configuration and achieve rapid time to market for new products.
Mambu offers very valid configurable features where we can configure different kinds of products that we can launch to market, including current accounts, savings accounts, family banking products, as well as split and pay features, which are very useful and easily available.
The split and pay feature is very unique, especially in the Philippines market where multiple people can go to a café or restaurant, order different things, and need their payments divided among individuals. This was very easy to configure in Mambu, where you can give them the option to select and split the bills as well as the option to pay the bills directly, which integrates with the core banking Mambu.
Regarding features, Mambu is easy to use and quickly adaptable by the team, so you do not spend too much time progressing through implementation the way you would with Thought Machine or others where you have to do programming. Mambu is a very configurable core banking product where you have to do the configuration and some out-of-the-box products are easily available which can be used to quickly make the go-to-market features available for the bank.
As a system integrator, Mambu has impacted our business significantly and generated substantial revenue because we were able to make it a core banking solution which is the heart of any bank. We were able to launch the digital bank within the span of nine months, which was a great achievement, and now that bank is catering to the entire APAC market. It has also provided a referral point for us where we can take it forward for US banks and other banking scenarios.
Mambu can be improved if it can keep up with current market trends and introduce innovative products, such as Buy Now, Pay Later features, which are not available out of the box at this moment.
Mambu has a good API available that can easily connect to third-party integrations. However, if they can integrate themselves and come up with front-end solutions, such as Backbase or i-exceed, along with AWS, Azure, and other cloud partners, it will help us to be more adaptive and scalable, covering a broader market.
Mambu needs to focus more on customer orientation. If they can provide self-guided learning materials for people to learn how to configure and use Mambu, it will be a great help.
I have used Mambu for almost three years.
I have interacted with Mambu's support team and have a good relationship with their customer success managers who are really helpful.
Neutral
Earlier, we were using traditional core banking systems such as Oracle Financials, Temenos T24, and Finacle in TCS banks. These legacy core banking systems required a lot of time for small changes and tweaking, involving lengthy change request cycles, which were time-consuming and costly. This is why we switched to Mambu.
Mambu enables faster time to market for new products. We were able to launch the new CASA product within nine months, and we were able to acquire more than thirty percent of the customer acquisition through Mambu. This new feature has given an adoption rate of almost thirty-five percent. In terms of maintenance and costs, since it is a cloud-native solution on shared cloud services, it has reduced our operational costs by approximately fifty to sixty percent.
The return on investment is quite high because, with Mambu's help, we were able to launch the cloud-native core banking digital bank very quickly in the Philippines market. The entire digital bank setup, along with integrations with the payment gateways and front-end core banking, took only nine months to launch our CASA product. This definitely provides a good return on investment, allowing us to save a lot of money compared to other market competitors, such as Thought Machine or Temenos.
Mambu is good for startups and neobanks. The pricing, setup costs, and licensing are reasonable. It is neither too high nor too low, so it is sustainable, and I believe they can continue with this model.
We evaluated Thought Machine, 10x, and Mambu. Among the three, we found that Mambu is cost-effective, easy to configure, and offered a very good time to market, which is why we chose Mambu over the others.
If you are looking to quickly launch a new core banking solution or replace existing core banking systems without focusing much on innovation, you should definitely consider using Mambu, as it is often the cheaper option with a quicker time to market and less operational cost.
If you want a quick and easy solution, Mambu is one of the best options. After working with traditional core banking and alternatives, such as Thought Machine and 10x, I find that Mambu is a safe bet.
If they can provide training material and user guides that help me create a center of excellence inside my organization, it would be helpful. Having support for hands-on sessions or videos explaining how to configure and use different kinds of products will be really valuable for me and my organization. I would rate this review a seven out of ten.
