SaaS Cloud Platform Mambu Introduces All-Digital Solution for SME Lenders, Will Lower Costs, Speed up Time to Market

Mambu, a software-as-a-service or SaaS Cloud banking platform, has introduced an all-digital solution for SME lenders that aims to lower overall costs while speeding up the time to market.

The new platform will be offering both banks and Fintechs with robust, scalable loan management solutions along with convenient access to a growing ecosystem of partners including Web-based identity authentication, credit checks as well as loan origination.

These partners are very important to lenders interested in providing fast loan approvals, the announcement noted.

The International Finance Corporation (IFC) reveals that, at present, there’s an unmet financing requirement of $5.2 trillion every year across 65 million companies or roughly 40% of formal MSMEs internationally, with the APAC region representing the biggest share at about 46%.

There’s now also increased pressure on SME lenders to provide relatively low-risk decisions quickly through an all-digital customer experience.

Mambu’s management noted that its SME lending service is specifically developed to handle fast new product launches and provides flexibility in order to adapt to changes as fast as possible. The solution provides several options to adjust or change loan conditions to support borrowers that are facing financial hardship.

This flexibility can assist customers with better serving SMEs and relieving the financial burden during these unprecedented times.

Myles Bertrand, Mambu’s MD for the APAC region, stated:

“SMEs are the backbone of our economy, and it is vital that SME lenders have the technology in place to offer these businesses flexible lending solutions. With Mambu’s clou d lending platform, SME lenders are able to service a diverse range of customers who may have been excluded from more traditional lending services, while also offering more flexible options, faster processing times, and lower overall costs.”

As covered in April 2021, Mambu announced that Tandem Bank is now live on its software-as-a-service (SaaS) banking platform.

Mambu, a Germany-based SaaS banking platform provider, revealed in June 2021 that it had teamed up with Google Cloud to power Bank Jago, an Indonesia-based digital bank.

Last month, 365.bank announced that it will be leveraging Backbase’s Engagement Banking platform and Mambu’s Cloud-powered banking platform “to pivot to digital-first banking.”

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