August 7, 2011
MAMBO in limbo?
MAMBO’s future is becoming clouded as NAB withdraws
its support and ANZ reviews its participation
BY CHARIS PALMER
BPAY’s Me at My Bank Online (MAMBO) online payments project appears to be in doubt, with NAB withdrawing support for it and ANZ reviewing its commitment.
NAB says it made the decision to withdraw from the project after a lengthy and thorough review, together with an assessment of the bank’s strategic direction and priorities in the payments space.
“NAB has become concerned with the status of the MAMBO industry project and the ability of the project to deliver real customer benefits in a timely manner,” the bank says.
NAB says the project should deliver clearer customer benefits, but instead is experiencing increasing costs and growing delays.
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