Ashman launches SME loan origination offering on Mambu

By Gloria Methri

Ashman, the UK-based neobank serving SMEs in the commercial real estate sector, is now live on Mambu. Ashman is leveraging Mambu’s cloud banking platform to manage its loan offering to build personalised services for property businesses and entrepreneurs in the UK.

Ashman, which secured its restricted banking licence in June 2022, aims to support SME borrowers and personal savers with access to lending and the knowledge to create sustainable properties.

Currently in the mobilisation phase, Ashman’s lending services will include bridging loans, buy-to-let mortgages, commercial mortgages, and property development finance ranging from £100,000 to £5 million.

Simon Healy, Chief Operations Officer at Ashman said, “Ashman will enable property entrepreneurs to move fast, win fast, be decisive and go after the opportunities they see. We will be entirely digital, focused on delivering speed and personalized service to our intermediary partners and clients. We sought a partner with the technical capability and robust cloud infrastructure to meet the needs we have today. Together with the synergy in people, culture, and strategy, we were confident that Mambu could support our growth and evolution in the longer term.”

A Mambu report states that almost 58% of UK SMEs have been unable to secure sufficient funding over the last five years, to cover the needs of their business. And 93% would consider switching lenders if a competitor offered a better or improved service.

Scott Wilson, Regional VP EMEA at Mambu, said, “In these challenging economic times, Ashman aims to offer a new breed of banking to deliver better solutions for customers and create meaningful change in UK real estate – and at pace. From initiation through onboarding, Ashman was up and running with its initial product setup on the Mambu platform in just a few months. Opting for a cloud-native core with Mambu gives them real flexibility and cost-effective scalability.”