Mambu Wins Innotribe's European Startup Challenge to SecurePlace in Grand Finale at Sibos 2014

BERLIN, May 8, 2014 /PRNewswire/ --

Mambu, the cloud banking provider, has won the 'Top Innovator' award at SWIFT's Innotribe Startup Challenge Regional Showcase, which took place last week in London. Mambu will now advance to the Innotribe Startup Challenge Grand Finale to be held at Sibos, SWIFT's annual conference, in Boston in October 2014, where the company will compete against finalists from the Singapore and New York showcases.

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SWIFT Innotribe selects the most promising startup businesses in Europe to compete in the Grand Finale at Sibos. The London showcase of the Innotribe Startup Challenge saw 15 of the region's most promising fintech startups and innovators present their businesses to an audience of hundreds of the financial industry's most influential innovators, investors, industry experts, venture capitalists and press.

Eugene Danilkis, co-founder and chief executive at Mambu said, "We are delighted to have won in the Innovator category at the Innotribe European Showcase, against some tough competition. Mambu gives banks and other financial innovators the opportunity to reach previously untapped markets, dramatically transforming how they design, deliver and service the world's underbanked individuals and businesses. Making it to the Innotribe Grand Finale in Boston gives us a superb platform to show startup banks and other financial innovators how cloud technology can help get them to market faster and more flexibly than ever before."

Fabian Vandenreydt, Head of Markets Management, Innotribe and the SWIFT Institute said: "London was a great kick-off to the 2014 Startup Challenge and it was exciting to see so many inspiring companies present their innovations to a packed room. All of the pitches were of the highest standard and these companies can be proud of their achievements. Now into the third full year of the Startup Challenge, we continue to see our network grow, allowing us to provide more startups with even greater opportunities to connect with the financial industry. We wish the finalists the best of luck at Sibos in Boston later this year."

The London Startup Challenge showcase was the first of the three regional challenges to be held in 2014 and was sponsored by HP, Invest NI, Level39, and SAP.

For more information about the Innotribe Startup Challenge, including a description of all semi-finalists participating to the competition this year, please visit http://innotribe.com/2014-startup-challenge/

About Innotribe 

SWIFT Innotribe is about connecting people, networks and ideas - bringing together global startups and innovators with investors, strategists, and influential decision-makers from leading financial institutions across the globe. The initiative seeks to bridge the gap between the startup ecosystem and the financial services industry, looking for products and services that could disrupt current business models and create opportunities for new ones. For more information, please visit http://www.innotribe.com or follow us on Twitter: @innotribe and Linkedin: Innotribe.

About SWIFT 

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information, please visit http://www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT.

About Mambu  

Mambu enables any financial institution to deliver state-of-the-art banking through its software-as-a-service cloud solution. Agile, flexible and open, Mambu eliminates the complexities typically associated with core banking software, at a fraction of the cost. Mambu makes it simple and cost-effective to provide essential banking services such as loans and deposits. Established in 2011, the Berlin-based company works with more than 100 institutions in 28 countries worldwide, servicing a portfolio of more than $100M. Our clients range from small microfinance organizations to large retail banks and other financial innovators that are seeking to address the financial needs of the world's 3 billion individuals and 250 million micro, small and medium enterprises in need of loan, savings and insurance services. For more information, please visit http://www.mambu.com

SOURCE Mambu