Mambu launches new digital solution for SME lenders

By Megha Bhattacharya

Mambu, the SaaS cloud banking platform, has unveiled a fully digital solution for SME lenders that cuts costs and time to market. The platform not only provides banks and FinTechs with scalable loan management technology but also easy access to an ecosystem of partners such as web-based identity authentication, credit checks and loan origination.

Jason Oakley, CEO of Recognise said: “For too long SMEs have had to do with below average service levels. We know that speed and flexibility are critical for SMEs and the current SME banking providers are no longer fit for purpose. This is why we decided to select a cloud solution early on our journey.”

Mambu’s SME lending solution is designed for fast new product launches and offers great flexibility in order to quickly adapt to changes. The solution offers a variety of options to adjust loan conditions in order to support borrowers that are in financial difficulties. This flexibility helps clients to better serve SME companies and to release financial burden during pandemic times.

Elliott Limb, Chief Customer Officer, Mambu added: “Small businesses have been greatly affected by the pandemic. Whether that’s starting a new company or growing an existing one, there’s never been a bigger requirement for SME lenders to offer the services their customers need. And with Mambu’s composable approach we provide an agile way for our clients to build and shape new financial services around the businesses they want to help.”