Scroll Finance launches greenfield UK mortgage offering on Mambu

By Joy Dumasia

Scroll Finance, a next-generation FinTech providing smart financing solutions to homeowners, has launched its home equity loan and home equity line of credit (HELOC) products, powered by Mambu‘s cloud banking platform. 

Scroll enables UK homeowners to unlock equity in their homes for use cases including home improvement, “green” upgrades, buying a holiday home, debt consolidation and deposits for property purchases.

Founded by engineers in 2021, Scroll aims to bring the flexibility, speed and convenience of an unsecured lending application experience to homeowner financing. Its unique solution aims to process applications from initial enquiry to completion in just a few days, compared to the six or seven weeks of traditional home financing options. Customers can borrow between £25,000 and £1 million at competitive rates, up to an 80% loan to value ratio, and Scroll has already completed its first loan.

Ashish Kashyap, CEO and Co-Founder of Scroll Finance, said, “We want to be in charge of building a great lending experience for our customers, and a key component of that is having full control over the entire life cycle of a loan, from initial enquiry to pay out to servicing and collections. Coupled to this desire of control is a requirement to develop in a fast, flexible way to adapt to our unique take on global home financing solutions. This is exactly what Mambu offers.”  

Building on Mambu’s composable technology foundation gives Scroll Finance the flexibility and control to choose from ‘best-of-breed’ components. This enables the FinTech to deliver distinctive customer experiences with no vendor lock-in and wholesale re-platforming. Mambu’s cloud-native architecture also ensures an intuitive and responsive journey for Scroll’s customers and brokers.

Richard Morgans, General Manager of Mambu UK and Ireland, commented, “Working with Scroll Finance is a testament to the flexibility and capabilities of our cloud banking platform. From scratch, and in just 10 months, the Scroll team designed, built, and launched not only a proprietary origination platform but also a suite of new-to-the-UK product features in addition to their HELOC product. The result is an innovative offering that will empower homeowners to quickly and easily access the equity that they have built up in their home. We are looking forward to continuing our partnership with Scroll to scale and expand their products and services.”

Scroll plans to offer “green” solutions which help make UK homes more energy efficient. This offering sits alongside a packed product roadmap of innovative and wide-ranging home finance options. Mambu’s API-enabled platform will facilitate this continuous improvement by rapidly configuring and deploying new products, giving the fintech a unique competitive edge in a short space of time.