Australian neobank Tyro, Mambu partner for term deposit offering

Mambu's composable banking approach allows Tyro to launch products quickly.

Australian neobank Tyro has tapped SaaS provider Mambu for its first term deposit product, according to an announcement.

The partnership allows Tyro to deploy a range of banking products, with Mambu’s composable approach offering the flexibility to quickly adapt in response to their customer needs. Composable banking refers to the design and delivery of financial services based on the rapid and flexible assembly of independent, best-for-purpose systems.

With Mambu’s cloud-native and API first platform, Tyro will roll out products including transactions and savings accounts and term deposits, as well as other banking products to address the needs of SME clients.