ABN AMRO, in partnership with cloud banking platform Mambu, has launched BUUT, a new neobank designed to help young people manage their finances. This initiative underscores the bank’s continued focus on digital innovation and rapid product development.

BUUT, a digital-first banking platform, went live in just 12 months, showcasing agility and speed in product delivery. Accessible through a single mobile app, it offers a Dutch IBAN account, alongside savings tools, budgeting features, payments, and card services tailored specifically for a younger audience.

Mambu’s composable technology provides the underlying infrastructure for BUUT’s operations, handling payment processing and account administration. This launch marks an expansion of ABN AMRO’s digital innovation efforts, building on previous ventures such as New10, its business lending app established in 2016, which also utilized Mambu’s technology.

Mark Geneste, chief revenue officer at Mambu, commented on the collaboration: “With BUUT, ABN AMRO has shown how established banks can leverage a future-ready, cloud-native platform to move with the agility and scale needed to keep up with market needs and the demands of Gen Z and Alpha. We are pleased to expand on our partnership with ABN AMRO and support them to deliver a fresh, digital-first banking experience for the next generation.”

Hein ter Braak, head of BUUT, added: “BUUT has the ambition to build the most financially healthy generation ever, and aimed to launch on the shortest possible timepath. As one of our strategic vendors, Mambu has proven to be easy and fast to implement and provides BUUT with a solution capable of scaling fast, a perfect match!”