Mambu, a SaaS cloud banking platform, has 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 to expand across West Africa.
The partnership will see Mambu’s API-first cloud banking platform provide the core infrastructure for Nyla’s digital banking services, enabling the neobank to launch without building its own core systems 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 will support account creation, product configuration, balance management and transaction processing across Nyla’s suite of digital financial services. Running on Amazon Web Services (AWS), the composable infrastructure will allow Nyla to scale across multiple African markets, including Nigeria, Senegal and Gambia, leveraging Mambu’s multi-country scalability to navigate new regulatory environments.
Nyla has already recorded over 33,000 users on its waitlist following the completion of an oversubscribed pre-seed funding round. The neobank is targeting 10,000 customer sign-ups within its first month after its expected June 2026 launch, $500,000 in total transaction value processed across all products, and 400,000 total users by the end of 2026.
Over the next 24 to 36 months, Nyla plans to expand its product suite to include physical debit cards, remittances, buy now pay later (BNPL) and Shari’ah-compliant investment instruments such as Sukuk, alongside a dedicated “Nyla for Business” offering. All customer-facing transactions will be processed within Mambu’s core system, while customer funds will be held with and regulated under Nyla’s licensed banking partners.
Mambu’s Islamic banking offering provides a cloud-native foundation for financial institutions to deliver Shari’ah-compliant services alongside or independent of conventional banking. Founded in 2011, the platform supports core banking, deposits, lending, payments and Islamic banking for banks, lenders, credit unions, FinTechs, retailers and other organisations.
Mambu chief revenue officer Mark Geneste said, “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.
“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 CEO Mubarak Sumaila said, “Our 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.”
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