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Spanish neobank Plazo partners with cloud banking platform Mambu

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A Spanish flag waving in the wind.


Duncan is an award-winning editor with more than 20 years experience in journalism. Having launched his tech journalism career as editor of Arabian Computer News in Dubai, he has since edited an array of tech and digital marketing publications, including Computer Business Review, TechWeekEurope, Figaro Digital, Digit and Marketing Gazette.


Spanish neobank Plazo has closed a strategic partnership with Mambu, a cloud banking technology platform.

This alliance allows Plazo to accelerate the development of cutting-edge lending solutions, with access to more than 30,000 new product combinations and fuel its expansion to further consolidate as the go-to financial wellness app covering people’s daily purchase, saving and lending needs.

Customers will be able to access the new lending products through Plazo Credit S.L.U., a collaborating company created to provide credit once the integration with Mambu is completed.

Mambu’s composable approach offers the Spanish neobank seamless integration with best-of-breed solutions through instant access to a digital ecosystem of interconnected services. The partnership opens up a broad range of new product development configurations that will significantly improve Plazo’s capacity to expand its offering.

Alessandro Ceschel, CEO of Plazo, said: “The partnership with Mambu will be key to complete the current offering of Plazo thus further consolidating it as the integral financial wellness app that will allow customers to gain full control over their personal finances. Leveraging Mambu’s disruptive technology and ecosystem, we will now be able to speed up the development of flexible lending solutions, thus offering customers a full-range service combination of transactional, saving and credit solutions”.

Victor Indiano, area manager, Southern Europe at Mambu, said: “Plazo understands that today’s banking is about being truly customer-centric. They are the only neobank in Spain combining daily banking with innovative credit solutions adapted to their customers’ needs. To succeed in the fast-paced financial world of today, Plazo adopted Mambu to boost its high-velocity operating model and we are very proud to be part of their success story.”

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After its successful launch in 2021, Plazo aims to further consolidate as one of the leading financial wellness apps in Spain. So far, Plazo has issued more than 100,000 Mastercard debit cards. Thanks to the agreement with Mambu, Plazo’s offering will soon include new credit-led products such as BNPL, fractional payments or salary advances.

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TECHNOLOGY

IDC predicts cloud infrastructure spending this year will hit $90.2B

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IDC predicts cloud infrastructure spending this year will hit $90.2B


IDC forecasts that cloud infrastructure spending will exceed $90 billion in 2022.

In Q1 2022, IDC found that spending on compute and storage infrastructure products for cloud deployments – including dedicated and shared environments – increased 17.2 percent year-over-year to $18.3 billion.

The firm’s analysts note the strong growth is despite “tight supply of some system components and disruptions in transportation networks.”

Dedicated cloud infrastructure spending increased an impressive 20.5 percent year-over-year in Q1 2022 to reach $5.9 billion. 47.8 percent of the infrastructure was deployed on-prem.

Spending on shared cloud infrastructure also continues to grow healthily with $12.5 billion spent in Q1 2022, a 15.7 percent year-over-year increase. IDC expects spending on shared cloud infrastructure to surpass non-cloud infrastructure for the first time in 2022.

Overall, IDC forecasts cloud infrastructure spending to grow 22 percent in 2022 compared to 2021 to hit $90.2 billion.

Long-term, the company expects spending on compute and storage cloud infrastructure will have a compound annual growth rate of 14.5 percent between 2021-2026 to reach $145.2 billion.

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(Photo by Giorgio Trovato on Unsplash)

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