Mambu, a cloud banking platform, and newly launched mortgage lender, Interbridge Mortgages, have announced a strategic partnership helping Interbridge Mortgages launch a second-charge product in just nine months and facilitating their entry to the UK mortgage market.
Interbridge Mortgages’ launch in early 2024 is set “to redefine the second charge mortgage sector in the UK through tailored financial solutions to brokers and customers across England, Scotland and Wales.”
Together with Mambu, they aim to deliver competitive “customer-centric mortgage products through a seamless, technology-driven approach.”
To power their market entry, Interbridge Mortgages required “a modern, flexible core banking solution that could integrate smoothly within its broader SaaS ecosystem including its CRM systems and 3rd party solutions for payment collections and processing.”
Mambu was chosen for its integration capabilities, “low-code / no-code configurability, and proven track record in the global lending space making it a clear choice for Interbridge Mortgages.”
Leveraging Mambu’s retail mortgages offering, Interbridge Mortgages “has successfully launched its second charge mortgage solution with sixteen variants, including both variable and fixed rates, with and without early repayment charges (ERCs).”
The flexibility of the Mambu platform allowed them to “configure and deploy all sixteen product variants in as little as nine months without code-writing.”
The partnership with Mambu has allowed the lender “to generate income from day one, already supporting 1000 customers. In just three months, over £60 million in loans have been distributed.”
Jonny Jones, CEO at Interbridge Mortgages, said they launched their mortgage offering in just nine months and three months after the launch, they have already supported 1,000 customers.
Mambu’s mortgage products provide endless benefits “for lenders by helping to provide the agility, flexibility, and innovation that lenders need to stay competitive and consistently meet customer expectations.”
As noted in the update:
“It is great to see that Interbridge Mortgages have experienced these benefits since implementing our core banking platform. We look forward to continuing to collaborate and help to transform the lending landscape going forward, creating a space where innovation meets customer expectations.”
