--- title: Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank description: The Inclusive FinTech Forum gathers global and regional leaders to harness fintech's potential for economic inclusion and sustainable development. image: https://www.inclusivefintechforum.com/hubfs/IFF/IFF%202026/Articles/IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9298-2.jpg --- [Skip to content](https://www.inclusivefintechforum.com/media-hub/latest-news/mambu-selected-as-core-banking-provider-by-nyla-africas-first-islamic-neobank#main-content) [Close ](https://www.inclusivefintechforum.com/media-hub/latest-news/mambu-selected-as-core-banking-provider-by-nyla-africas-first-islamic-neobank#) - [ABOUT](https://www.inclusivefintechforum.com/about) - AGENDA - [Programme](https://www.inclusivefintechforum.com/programme) - [Speakers](https://www.inclusivefintechforum.com/speakers) - [Themes](https://www.inclusivefintechforum.com/2026-themes) - [Week Overview](https://www.inclusivefintechforum.com/week-overview) - [PARTNERS](https://www.inclusivefintechforum.com/sponsor) - [Our Sponsors ](https://www.inclusivefintechforum.com/sponsor) - [Join Us - Sponsor or Exhibit ](https://www.inclusivefintechforum.com/sponsor-exhibit) - [Our Partners](https://www.inclusivefintechforum.com/partners) [REGISTER INTEREST FOR 2027](https://www.inclusivefintechforum.com/register-your-interest) [![Inclusive FinTech Forum ](https://www.inclusivefintechforum.com/hs-fs/hubfs/Inclusive%20FinTech%20Forum/IFF%202026/Logos/MARCH%202026%20LOGOS/iff26_logo_rgb_nd.png?width=180&height=88&name=iff26_logo_rgb_nd.png)](https://www.inclusivefintechforum.com) [![Inclusive FinTech Forum ](https://www.inclusivefintechforum.com/hs-fs/hubfs/Inclusive%20FinTech%20Forum/IFF%202026/Logos/iff24_logo_rgb_nd.png?width=180&height=88&name=iff24_logo_rgb_nd.png)](https://www.inclusivefintechforum.com) - [ABOUT](https://www.inclusivefintechforum.com/about) - AGENDA - [Programme](https://www.inclusivefintechforum.com/programme) - [Speakers](https://www.inclusivefintechforum.com/speakers) - [Themes](https://www.inclusivefintechforum.com/2026-themes) - [Week Overview](https://www.inclusivefintechforum.com/week-overview) - [PARTNERS](https://www.inclusivefintechforum.com/sponsor) - [Our Sponsors ](https://www.inclusivefintechforum.com/sponsor) - [Join Us - Sponsor or Exhibit ](https://www.inclusivefintechforum.com/sponsor-exhibit) - [Our Partners](https://www.inclusivefintechforum.com/partners) [REGISTER INTEREST FOR 2027](https://www.inclusivefintechforum.com/register-your-interest) ![IFF 2026 _ DAY3 11MAR _ AD10 _ 18 1100 12032026 SHKR9329-2](https://www.inclusivefintechforum.com/hs-fs/hubfs/IFF/IFF%202026/Articles/IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9329-2.jpg?width=300&name=IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9329-2.jpg) # Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank [Previous ](https://www.inclusivefintechforum.com/media-hub/latest-news/daily-media-bulletin-inclusive-fintech-forum-2026-day-3) [Next ](https://www.inclusivefintechforum.com/media-hub/latest-news/rwanda-launches-the-rwanda-fintech-centre-at-iff-2026-to-accelerate-support-for-fintech-innovations) ## Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank Amsterdam, Netherlands // Kingali, Rwanda – March 12th, 2026 - Mambu, the leading SaaS cloud banking platform, today announced a strategic collaboration with Nyla, Africa’s first Islamic neobank, to power its shari’ah-compliant digital banking infrastructure as it launches in Ghana and prepares for expansion across West Africa. ![IFF 2026 _ DAY3 11MAR _ AD10 _ 18 1100 12032026 SHKR9298-2](https://www.inclusivefintechforum.com/hs-fs/hubfs/IFF/IFF%202026/Articles/IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9298-2.jpg?width=2048&height=1366&name=IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9298-2.jpg) The partnership marks a significant milestone for Mambu’s Islamic banking offering on the African continent, bringing scalable, cloud-native infrastructure to an underserved market. market exceeding $7 trillion. However, Africa accounts for just 2% of the industry, despite strong demand for ethical, values-based financial services across Muslim-majority and underserved communities. Nyla is addressing this gap with a digital-first, values-driven model, utilising Mambu’s SaaS, API-first cloud banking platform to launch quickly without building core infrastructure from scratch. At launch, Nyla will offer digital current and savings wallets, peer-to-peer transfers, bill payments, and card-linked accounts. Mambu's core banking engine powers Nyla's ambition to expand into a full-service pan-African digital Islamic bank by enabling account creation, product configuration, balance management and transaction processing across its suite of digital financial services. This composable foundation, running on Amazon Web Services (AWS) will allow Nyla to scale efficiently across multiple African markets— including Nigeria, Senegal, and Gambia, leveraging Mambu’s multi-country scalability to enter new regulatory environments. Islamic banking offering provides a modern, cloud-native foundation for financial institutions to deliver Shari’ah-compliant services alongside or independent of conventional banking. Mambu’s comprehensive Islamic funding suite supports a diverse range of deposit and investment products, including transactional accounts, fixed deposits, and savings plans utilising key contracts. “The global Islamic finance market represents a significant and underserved opportunity, particularly across Africa. Nyla is addressing that gap with a digital-first, values-driven model, and we are proud to power their core infrastructure,” Mark Geneste, Chief Revenue Officer at Mambu said. “Our platform is purpose-built to support Islamic and non-interest banking products, enabling institutions to innovate while maintaining compliance and operational resilience. This collaborative partnership reflects the growing demand for modern, scalable Islamic digital banking solutions.” Nyla has already demonstrated strong market demand with over 33,000 users on its waitlist. Following the completion of an oversubscribed pre-seed funding round and its expected June 2026 launch, the neobank targets: ●​ 10,000 customer sign-ups within the first month ●​ USD $500,000 in total transaction value processed across all products ●​ 400,000 total users by end of 2026“ ur long-term ambition is to build the largest Islamic bank in the world. We are starting with digital products, but our vision extends to building the infrastructure layer for Islamic finance across Africa and beyond. By combining ethical banking principles with scalable technology, we aim to confront financial exclusion with a lasting and practical solution. Collaborating with Mambu gives us the foundation to execute that vision with speed and compliance,” said Nyla Chief Executive Officer, Mubarak Sumaila. Over the next 24 to 36 months, Nyla plans to deepen its product suite to include physical debit cards, remittances, BNPL and Shari’ah-compliant investment instruments such as Sukuk, as well as a dedicated "Nyla for Business" offering. All customer-facing transactions will be processed within Mambu’s core system [![IFF logo no dates (1)](https://22287007.fs1.hubspotusercontent-na1.net/hub/22287007/hubfs/IFF-2023/Branding/IFF%20logo%20no%20dates%20(1).png?width=250&name=IFF%20logo%20no%20dates%20(1).png)](https://www.inclusivefintechforum.com/) THE FORUM [About The Forum](https://www.inclusivefintechforum.com/about) [2026 Agenda](https://www.inclusivefintechforum.com/programme) [2026 Speakers](https://www.inclusivefintechforum.com/speakers) [Latest News & Insights](https://www.inclusivefintechforum.com/latest-news) GET INVOLVED [Partner with Us](https://www.inclusivefintechforum.com/sponsor) [Apply to Speak ](https://www.inclusivefintechforum.com/apply-to-speak) [Register Your Interest 2027](https://www.inclusivefintechforum.com/register-your-interest) ATTENDEES [Why Attend?](https://www.inclusivefintechforum.com/why-attend) [Plan Your Trip](https://www.inclusivefintechforum.com/planyourtrip) [Rwanda Tour Packages](https://www.inclusivefintechforum.com/tour-packages) [Attending Organisations](https://www.inclusivefintechforum.com/attending-organisations) [FAQs](https://www.inclusivefintechforum.com/faq) GLOBAL PLATFORMS [Black Swan Summit](https://australia.blackswansummit.com) Australia [GFTN Forum, Japan](https://gftnforum.jp) [Global SME Finance Forum](https://www.globalsmefinanceforum.com) Point Zero Forum [Singapore FinTech Festival](https://www.fintechfestival.sg/) Copyright © 2026 Global Finance & Technology Network, all rights reserved - [Contact Us ](https://www.inclusivefintechforum.com/contact-us/) ```json { "@context" : "https://schema.org", "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "Singapore", "addressLocality" : "#28-01", "addressRegion" : "Singapore", "postalCode" : "049909", "streetAddress" : "6 Battery Road" }, "knowsLanguage" : "en", "logo" : { "@type" : "ImageObject", "url" : "https://22287007.fs1.hubspotusercontent-na1.net/hubfs/22287007/IFF/IFF%202025/Logo/IFF25_logo_revwht.png" }, "name" : "Global Finance & Technology Network", "url" : "https://www.inclusivefintechforum.com/media-hub/latest-news/mambu-selected-as-core-banking-provider-by-nyla-africas-first-islamic-neobank" } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "abstract" : "The Inclusive FinTech Forum gathers global and regional leaders to harness fintech's potential for economic inclusion and sustainable development.", "author" : { "@type" : "Person", "name" : "Inclusive FinTech Forum" }, "dateModified" : "June 12, 2026 8 AM", "datePublished" : "March 12, 2026 12 PM", "headline" : "Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank", "image" : "https://22287007.fs1.hubspotusercontent-na1.net/hubfs/22287007/IFF/IFF%202026/Articles/IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9298-2.jpg", "inLanguage" : "en", "keywords" : "[]", "mainEntityOfPage" : { "@type" : "WebPage" }, "name" : "Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://22287007.fs1.hubspotusercontent-na1.net/hubfs/22287007/IFF/IFF%202025/Logo/IFF25_logo_revwht.png" }, "name" : "Global Finance & Technology Network" }, "text" : "Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank Amsterdam, Netherlands // Kingali, Rwanda – March 12th, 2026 - Mambu, the leading SaaS cloud banking platform, today announced a strategic collaboration with Nyla, Africa’s first Islamic neobank, to power its shari’ah-compliant digital banking infrastructure as it launches in Ghana and prepares for expansion across West Africa. The partnership marks a significant milestone for Mambu’s Islamic banking offering on the African continent, bringing scalable, cloud-native infrastructure to an underserved market. market exceeding $7 trillion. However, Africa accounts for just 2% of the industry, despite strong demand for ethical, values-based financial services across Muslim-majority and underserved communities. Nyla is addressing this gap with a digital-first, values-driven model, utilising Mambu’s SaaS, API-first cloud banking platform to launch quickly without building core infrastructure from scratch. At launch, Nyla will offer digital current and savings wallets, peer-to-peer transfers, bill payments, and card-linked accounts. Mambu's core banking engine powers Nyla's ambition to expand into a full-service pan-African digital Islamic bank by enabling account creation, product configuration, balance management and transaction processing across its suite of digital financial services. This composable foundation, running on Amazon Web Services (AWS) will allow Nyla to scale efficiently across multiple African markets— including Nigeria, Senegal, and Gambia, leveraging Mambu’s multi-country scalability to enter new regulatory environments. Islamic banking offering provides a modern, cloud-native foundation for financial institutions to deliver Shari’ah-compliant services alongside or independent of conventional banking. Mambu’s comprehensive Islamic funding suite supports a diverse range of deposit and investment products, including transactional accounts, fixed deposits, and savings plans utilising key contracts. “The global Islamic finance market represents a significant and underserved opportunity, particularly across Africa. Nyla is addressing that gap with a digital-first, values-driven model, and we are proud to power their core infrastructure,” Mark Geneste, Chief Revenue Officer at Mambu said. “Our platform is purpose-built to support Islamic and non-interest banking products, enabling institutions to innovate while maintaining compliance and operational resilience. This collaborative partnership reflects the growing demand for modern, scalable Islamic digital banking solutions.” Nyla has already demonstrated strong market demand with over 33,000 users on its waitlist. Following the completion of an oversubscribed pre-seed funding round and its expected June 2026 launch, the neobank targets: ● 10,000 customer sign-ups within the first month ● USD $500,000 in total transaction value processed across all products ● 400,000 total users by end of 2026“ ur long-term ambition is to build the largest Islamic bank in the world. We are starting with digital products, but our vision extends to building the infrastructure layer for Islamic finance across Africa and beyond. By combining ethical banking principles with scalable technology, we aim to confront financial exclusion with a lasting and practical solution. Collaborating with Mambu gives us the foundation to execute that vision with speed and compliance,” said Nyla Chief Executive Officer, Mubarak Sumaila. Over the next 24 to 36 months, Nyla plans to deepen its product suite to include physical debit cards, remittances, BNPL and Shari’ah-compliant investment instruments such as Sukuk, as well as a dedicated \"Nyla for Business\" offering. All customer-facing transactions will be processed within Mambu’s core system", "url" : "https://www.inclusivefintechforum.com/media-hub/latest-news/mambu-selected-as-core-banking-provider-by-nyla-africas-first-islamic-neobank", "wordCount" : "699" } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Inclusive FinTech Forum", "url" : "https://www.inclusivefintechforum.com/media-hub/latest-news/author/inclusive-fintech-forum" }, "dateModified" : "2026-04-08T08:36:22.627Z", "datePublished" : "2026-03-12T12:11:11.000Z", "headline" : "Mambu selected as core banking provider by Nyla, Africa’s first Islamic neobank", "image" : [ "https://www.inclusivefintechforum.com/hubfs/IFF/IFF%202026/Articles/IFF%202026%20_%20DAY3%2011MAR%20_%20AD10%20_%2018%201100%2012032026%20SHKR9298-2.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.inclusivefintechforum.com/media-hub/latest-news/mambu-selected-as-core-banking-provider-by-nyla-africas-first-islamic-neobank", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.inclusivefintechforum.com/hubfs/IFF/IFF%202025/Logo/IFF25_logo_revwht.png" }, "name" : "GFTN" } } ```