Mambu’s Board of Directors Adds Tech Veteran in Mobile Payments & Deposits
Sometimes, all a technology company really needs to take off fully is the right kind of guidance in its executive board. Thus, a board often looks for big names in technology, or those with extensive track records of success. Recently, Mambu made such a move, bringing in Henning Kagermann to take a slot on its board, and hopefully give the software-as-a-service provider for mobile lending and mobile deposits a better shot at success in the field.
Kagermann is part of the supervisory boards at Munich Re and Deutsche Post, and was previously part of the supervisory board at Deutsche Bank. He was also formerly of acatech, the National Academy of Science and Engineering in Germany, which is an advisory board to the German government. Before that, he spent 27 years at SAP, five of those as co-CEO.
Kagermann noted “Mambu is the alternative to legacy core systems and is influencing the way larger banking and lending providers operate, innovate and serve their digital customers. I look forward to helping Mambu embed their leadership position by providing insight into how they can better support clients and continue rapid international growth.”
All of this is especially helpful for Mambu; its line of SaaS offerings are proving sufficiently attractive to get the notice of large banks. It’s currently got over 6,000 loan and deposit products to its credit. That means that it will need someone on hand who not only has experience with such banks for credibility, but also someone who understands what banks are looking for in such releases.
Knowing just what those banks are looking for will likely shape sales and marketing efforts going forward and offer the best chance of sales. With mobile banking an increasingly popular option, particularly among the millennial market that’s just now coming into its own in terms of disposable income, having a product line ready for market on this front can represent big opportunity.
Having Kagermann in tow could help that product development along, and give Mambu the necessary background and experience to get it further ready for prime time. Mobile banking has no shortage of opportunity right now, but that means a lot of competition going after the market to supply the mobile banking options of the future.