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APIs · head to head

Mambu vs Toqio

Mambu logo

Mambu

APIs

Composable cloud core banking platform used by banks, lenders and fintechs in 65-plus countries

From
On request
Rated
-
Full reviewWebsite
Toqio logo

Toqio

APIs

No code platform for building embedded finance products on your own providers

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Mambu pricing is entirely unpublished, and as subscription and usage-based fees scale with a bank's book of business, total cost at scale is hard to forecast before a detailed vendor conversation.; Toqio toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • They diverge on capability: Mambu covers Composable engine architecture, Toqio covers No code product builder.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Mambu and Toqio actually diverge.

Attributes where Mambu and Toqio differ
AttributeMambuToqio
PlatformsWeb, APIWeb, iOS, Android, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Mambu

  • Composable engine architecture
  • Deposits and lending core
  • Cloud-native SaaS delivery
  • Marketplace of connectors
  • Multi-country regulatory support
  • API-first orchestration

Only in Toqio

  • No code product builder
  • Provider orchestration
  • Account and card modules
  • Embedded financing
  • Back office tooling
  • Multi entity and multi brand
  • White label mobile apps
  • Marketplace of providers

What people use each for

The jobs each tool is most often brought in to do.

Mambu

  • A digital-first challenger bank wanting a cloud-native core without building banking infrastructure from scratchnot Toqio
  • A lender needing configurable loan product engines to launch new credit products fasternot Toqio
  • An established bank doing incremental core modernisation rather than a full monolithic core replacementnot Toqio
  • A fintech in an emerging or regulated market needing pre-built compliance configuration across many jurisdictionsnot Toqio

Toqio

  • A manufacturer offering branded working capital finance to its dealer networknot Mambu
  • A B2B marketplace launching accounts and cards for its sellers without becoming regulated itselfnot Mambu
  • A corporate that wants to switch card issuer without rebuilding its customer facing productnot Mambu
  • A group launching the same embedded finance product across several markets with different local providersnot Mambu

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Mambu

  • Pricing is entirely unpublished, and as subscription and usage-based fees scale with a bank's book of business, total cost at scale is hard to forecast before a detailed vendor conversation.
  • A core banking implementation is a multi-year, high-switching-cost commitment regardless of vendor, and Mambu is no exception; a wrong initial configuration choice is expensive to unwind.
  • Composability is a genuine strength but also means more integration and configuration decisions fall to the bank's own team or system integrator, versus a more opinionated, less flexible fixed-core alternative.
  • As cloud-hosted core banking infrastructure, a bank is trusting Mambu's own uptime and security posture for its most business-critical system, concentrating operational risk in one vendor relationship.
  • Newer entrants such as Thought Machine and 10x Banking compete directly on similar composable positioning, so Mambu's tenure advantage is real but narrowing as competitors mature.

Toqio

  • Toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • Because it orchestrates rather than provides, the customer experience is only as good as the underlying bank or issuer, and Toqio cannot fix a partner's settlement delays or outages.
  • Pricing is quoted with no public rate card, so comparing it against building in house or against a bundled banking as a service provider requires a full sales process.
  • With around EUR 30 million raised in total it is a small supplier to underpin a financial product a large corporate expects to run for a decade, which raises real continuity questions in procurement.
  • No code configuration covers standard patterns well but bespoke customer journeys eventually require custom development, at which point the main advantage over building directly on provider APIs narrows.

Pricing, plan by plan

Mambu

On request
  • Mambu$undefined/year
    • Subscription pricing, structured by modules and usage
    • Exact rates not published, custom quote required

Toqio

On request
  • Toqio platform$undefined/year
    • Quoted per customer, typically setup plus recurring platform fee
    • Regulated provider fees are separate and contracted by you
    • Card interchange and lending economics belong to your provider agreements

Which should you pick?

Choose Mambu if

  • You need composable engine architecture.
  • You work on Web, API.
  • You also want deposits and lending core.
Mambu review

Choose Toqio if

  • You need no code product builder.
  • You work on Web, iOS, Android, API.
  • You also want provider orchestration.
Toqio review

Questions people ask

Is Mambu or Toqio better?
Neither clearly leads. Mambu starts at On request and Toqio at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Mambu or Toqio?
Mambu starts at On request and Toqio at On request.
Does Mambu or Toqio run on more platforms?
Mambu runs on Web, API. Toqio runs on Web, iOS, Android, API.
What is Mambu best used for?
Mambu is most often used for a digital-first challenger bank wanting a cloud-native core without building banking infrastructure from scratch, a lender needing configurable loan product engines to launch new credit products faster, an established bank doing incremental core modernisation rather than a full monolithic core replacement, a fintech in an emerging or regulated market needing pre-built compliance configuration across many jurisdictions. Of those, a digital-first challenger bank wanting a cloud-native core without building banking infrastructure from scratch and a lender needing configurable loan product engines to launch new credit products faster are not what Toqio is typically brought in for.
What can Mambu do that Toqio cannot?
Mambu covers Composable engine architecture, Deposits and lending core, Cloud-native SaaS delivery, Marketplace of connectors. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Mambu: Is Mambu on-premise or cloud?

Cloud-native SaaS delivery, not an on-premise installation.

Toqio: Does Toqio provide the banking licence?

No, deliberately. You contract your own bank, issuer or lender, which is why you can replace them without rebuilding the product.

Mambu: Does it publish pricing?

No, pricing is subscription-based, structured by modules and usage, but not published publicly.

Toqio: Who is it aimed at?

Large corporates and B2B ecosystem operators embedding finance for suppliers, dealers or marketplace sellers, not consumer fintech startups.

Mambu: How many countries does it operate in?

It is used by banks, lenders and fintechs across more than 65 countries.

Toqio: How much does it cost?

Not published. Expect a setup fee plus a recurring platform fee, with all regulated provider costs on top and separately contracted.

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