Brunswick Credit Union Transitions to Mambu’s Platform

Brunswick Credit Union, a major financial cooperative in Canada’s New Brunswick province, is adopting the Mambu cloud banking platform as it prepares for the end of life of its legacy core system next year. The transition is part of a broader trend among financial institutions to embrace modern cloud-based solutions to enhance their services and operational efficiency.

The Software-as-a-Service (SaaS) offering from Mambu will support Brunswick Credit Union’s checking and savings accounts, mortgages, and other lending functions for its retail and business members. The credit union serves over 40,000 members with assets exceeding $1 billion. It was formed in 2022 through the merger of three credit unions: Advance Savings Credit Union, Bayview Credit Union, and Progressive Credit Union.

Brunswick Credit Union’s CEO, Lisa Loughery, stated that the cooperative intends to leverage the Mambu platform “to its full extent to take advantage of future possibilities” once the transition is complete. The implementation process is being managed by League Data, a technology partner for credit unions across Canada’s Atlantic provinces.

For Mambu, based in Amsterdam, this partnership with Brunswick Credit Union underscores the continued international expansion of its core banking solutions. In addition to its recent collaboration with Brim Financial in Canada to integrate platform-as-a-service technology, Mambu is also gaining traction in European markets.

One example of Mambu’s growing European clientele is Mutual Vision, a technology provider for banks and building societies in the UK. In April last year, Mutual Vision announced a partnership with Mambu to develop a flexible core banking engine. The latest application of Mambu’s platform, MV Solar, targets small to midsize lenders and aims to provide a comprehensive suite of digital banking tools.

David Bennett, business development director at Mutual Vision, explained that MV Solar is designed to offer “advanced analytics, dynamic workflows, succinct data views,” and “the insight to improve their products and services.” The platform’s versatility is expected to help smaller lenders achieve competitive advantage and increased efficiencies.

As financial institutions continue to seek innovative solutions for their banking needs, Mambu’s cloud-based platform appears to be gaining momentum across North America and Europe, with Brunswick Credit Union and Mutual Vision among the latest adopters.