back Back

Mambu partners with New Zealand’s digital lending platform for SME banks

By Edil Corneille

October 08, 2020

  • Mambu
  • New Zealand
Share

Mambu, SaaS cloud-native banking platform, API, digital, SME, COVID-19, lending, economyBerlin-based Mambu has partnered with Ranqx, a digital lending platform headquartered in Auckland, New Zealand. The collaboration entails the utilisation of Mambu’s API-first digital banking platform by Ranqx to provide frictionless digital lending experiences, loan origination, decisioning, and monitoring for small and medium-sized enterprises.

Ben Goldin, CTO/ CPO at Mambu said, “Ranqx’s innovative digital lending platform removes the manual processes inherent with traditional loan applications for small and medium-sized enterprises. This results in cost savings of up to 80 per cent and allows SME banks and lenders to assess and approve loan applications within five minutes, in a fully digital customer experience. This is the kind of innovative tech that Mambu loves to partner with, and we look forward to working together to help our mutual customers.”

Mambu has also powered Oaknorth, the UK’s regulated unicorn cloud bank. Today its customer list includes top tier banks including ABN AMRO and Santander as well as major FinTechs like N26 and telcos such as Globe Telecom and Orange. The company operates in 6 continents services more than 160 customers with over 20 million end-users.

Dave Lewis, CEO of Ranqx said, “By partnering with Mambu and aligning our specialist loan origination and decisioning engine with Mambu, we are able to offer SME banks and lenders an unrivalled loan application and credit decisioning process. Harnessing the power of Mambu’s composable banking platform alongside Ranqx’s best-in-class decisioning technology means that together we can offer SME banks and lenders a significantly more efficient and cost-effective service.”

Myles Bertrand, Managing Director, APAC, at Mambu added, “Ranqx has developed a groundbreaking loan origination and decisioning engine. Through our global partnership we will remove the costly manual overhead currently required to operate SME banking and lending businesses, resulting in money getting where it’s needed, faster. With the world still grappling with the economic impact of the COVID-19 pandemic, improving the efficiency of loan processing is going to be an essential component in our recovery.”

Previous Article

October 08, 2020

Fiserv introduces Advance Defense, a fraud detection solution for card issuers

Read More
Next Article

October 08, 2020

Visa expands acceptance of B2B payments using Stripe Connect

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Mambu

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 12, 2024

FinTech Focus: Catch latest developments of the week

Read More

April 12, 2024

Parafin secures $125m warehouse facility from Silicon Valley Bank & Trinity Capital

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023