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

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.”

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