Mambu

Mambu states that data is customer’s data; full access to data at any time via APIs or backups. No cost to access data.

Mambu is implementing open banking standards compliance globally through partners (such as SaltEdge for OpenBanking UK and PSD2 in Europe), or through providing open APIs and allowing banks to build their own solutions. FDX-compliant open banking partner is part of the marketplace roadmap.

Mambu states that they have public APIs documented on api.mambu.com for internal bank systems integrations. APIs are used to expose Mambu to 3rd parties (customers and data aggregators). Ecosystem components are used to expose Mambu APIs in a secure and compliant way.

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

Mambu states the following: 

• Provides non-exclusive rights to access and use its SaaS. Customers may permit third-party access, but only for the purpose of providing service to that customer or for conducting business between the customer and the third party.
• Offers a master services agreement as a single framework agreement in which the parties enter into one or more order form; expiration of these order forms is typically aligned. Mambu essentially offers only a single platform, its Core.
• A subscription-based, multi-year (typically five), non-cancellable contracts and never imposes fees on customers that do not want to renew at the end of such contract period.
• Customers are responsible for the remaining contract if termination were to be for convenience.
• Regulated customers are solely responsible for complying with applicable law, and this responsibility cannot be shifted to Mambu. Applicable law includes the content of contracts, statements, forms and disclosures; content, delivery and timing of correspondence and communications with clients; interest rates and fees charged to clients; and marketing, originating, servicing, collecting and administering any products and services.
• With the exception of a breach of confidentiality or usage restriction, neither party will be liable for: damages of character, including damages for lost goodwill, profits, sales or business, work stoppage, computer failure or malfunction, lost content or data, or for all other damages or losses; or damages, costs or liabilities in excess of the customer payments made during the 12 preceding months, less than customer’s payment obligations.
• 99.99% uptime guarantee - 2 min failover on single datacenter failure. Continuous backups for 30 days. Active latency and performance monitoring.