Trade Ledger, a UK-based specialist mid-market Lending-as-a-Service platform for banks and alternative finance providers, announced on Wednesday it has formed a new partnership with Mambu in order to accelerate mid-market commercial lending. Trade Ledger reported it will overlay its platform on the Mambu cloud banking platform to help lenders target the mid-market commercial sector.
“A major problem for commercial lenders is the selection and integration of ‘best-of-purpose’ banking technology which supports their increasingly diverse and digital lending operations. With cloud-native best-for-purpose banking technologies providers like Trade Ledger and Mambu, commercial lenders can now design, configure and implement brand new commercial lending products almost instantly, re-imaging the customer experience through data-driven lending.”
Vincent also shared:
“Mambu’s composable banking approach blends perfectly with our vision for a brand-new mid-market transactional banking and trade infrastructure. Through an API-driven architecture, the Trade Ledger and Mambu platforms come together with Mambu Process Orchestrator allowing our customers to significantly reduce the cost of loan origination and servicing, improve customer experiences (internal and external), and rapidly increase the volume of their loan book – all without significant investment in more staff or resources.”
Ben Goldin, Chief Technology and Product Officer at Mambu, went on to add:
“No single vendor can be the best at all components of a banking architecture which is why we partner with the best-of-service providers like Trade Ledger to offer customers simplicity, ease of integration and speed. Trade Ledger are closely aligned to our composable banking approach which helps financial providers create modern customer experiences to compete in the fintech era — and constantly evolve them to respond to change.”
Founded in 2016, Trade Ledger describes itself as a corporate Lending Platform for better SME and Mid-Market lending that supports many secured lending categories including Invoice Finance, Commercial Loans (RCF), Equipment Finance, Asset-Based Lending (ABL), Supply Chain Financing and Factoring.