ARTICLE
Are you ready for the future? Five must-haves for financial service providers
The financial services industry is evolving at breakneck speed. Companies aren’t just looking for providers, they need partners who can help them navigate change, unlock new opportunities, and stay ahead of the curve. But what exactly do decision-makers expect from their financial service solutions providers?
To find out, Mambu surveyed over 1,500 corporate leaders across the UK, Australia, Indonesia, Saudi Arabia, and Mexico in Q4 2024. The findings—part of the Mambu Insights Series—reveal the core functional demands shaping the industry today and what financial institutions need to succeed.
The Five Core Demands of Financial Service Providers
From the data, five key functional needs emerged, critical factors that determine whether a financial service provider is a valued partner or just another vendor. In a competitive and fast evolving market, decision-makers demand solutions that don’t just meet expectations but actively drive business success. These requirements aren’t just preferences; they shape purchasing decisions and long-term partnerships.
Here’s what decision-makers expect from their financial service solutions providers:
We need a solution that supports growth
Businesses want financial solutions that help them scale, enter new markets, and strengthen their brand positioning, all while staying compliant with evolving regulations. The ability to support both short-term goals and long-term expansion is critical.
We need a high-security solution
Security isn’t a feature—it’s a necessity. Companies expect rock-solid data protection, secure transactions, and adherence to strict regulatory standards. Encryption, system uptime, and fail-safes aren’t just nice-to-haves—they’re dealbreakers.
We need cutting-edge functionality
Technology moves fast, and companies need solutions that push the boundaries. Decision-makers are looking for platforms that deliver the latest financial services innovations and integrate seamlessly with existing systems. Staying ahead of the competition means staying ahead in tech.
We need a solution we can tailor
One-size-fits-all doesn’t work in financial services. Companies want platforms that adapt to their specific needs, from customizable workflows to scalable features that allow them to evolve without unnecessary friction.
We need a user-friendly experience
A powerful solution is only valuable if people can actually use it. Companies demand intuitive interfaces, automation, and streamlined processes to increase efficiency and reduce complexity. User experience is directly tied to productivity and customer satisfaction.
How do these needs compare?
While all five demands are essential, our research found some subtle differences in priority:
- Security and scalability are seen as hygiene factors, table stakes that providers must meet just to compete. If a solution doesn’t check these boxes, it’s simply not an option.
- Cutting-edge functionality and tailorability are important but seen as value-added differentiators rather than baseline requirements.
- The need for growth support is especially high for international companies, where navigating multiple markets adds extra complexity.
It’s also important to recognise that these priorities are shaped by external factors. The current geopolitical climate has heightened concerns around security across all industries, while perceptions of how well financial technology providers are currently delivering on these needs also play a role in shaping expectations.
How does Mambu deliver on these needs?
At Mambu, we build solutions with these exact demands in mind. Our cloud-native platform is designed to empower financial institutions with the flexibility, security, and innovation they need to succeed in a rapidly changing world.
Growth-ready Infrastructure: Mambu’s scalable architecture helps businesses expand without the constraints of legacy systems. We support faster time-to-market and seamless compliance across regions.
Security at the core: Our platform is built with enterprise-grade security, ensuring data integrity, uptime, and compliance with evolving regulatory standards.
Always cutting-edge: We continuously evolve, offering state-of-the-art financial features and seamless integrations to keep our clients ahead of the curve.
Composable for every business: With our composable architecture, companies can customize their financial services to match their unique need, scaling up, down, or pivoting as required.
Designed for simplicity: A smooth user experience is at the heart of what we do. Our intuitive interfaces help teams work smarter, automate processes, and enhance productivity.
The Bottom Line: The financial services industry isn’t slowing down, and neither are the expectations placed on providers. To stay ahead, financial institutions need solutions that are scalable, secure, innovative, flexible, and user-friendly, all at once.
Mambu is committed to delivering exactly that. Our cloud-native platform is built to meet these evolving demands, ensuring our clients are future-ready with the right tools to grow, adapt, and thrive.
Ready to see how Mambu can help your business meet these core needs? Explore our solutions today.