Lance Mambondiani is stepping down as managing director of BancABC, with sources suggesting his departure is linked to BancABC shareholder Atlas Mara divesting from the region. Mambondiani, who is known for his interest in financial services innovation, is expected to leave the institution over the next three months. During his tenure, he introduced key innovations, such as the local remittance service CityHopper, which processed more than $10m in one year.