Cloud banking platform Mambu launches fully digital solution for SME lenders

Mambu, the market-leading SaaS cloud banking platform, has unveiled a fully digital solution for SME lenders that cuts costs and speeds time to market.

The platform not only provides banks and fintechs with robust, scalable loan management technology but also easy access to an ecosystem of partners such as web-based identity authentication, credit checks and loan origination. These partners are vital to lenders wanting to offer speedy loan approvals – a key competitive advantage.

According to the International Finance Corporation (IFC), it’s estimated that there is an unmet financing need of USD$5.2 trillion every year across 65 million firms, or 40% of formal micro, small and medium enterprises (MSMEs) globally, with the APAC region accounting for the largest share (46%).

At the same time, there is more pressure on SME lenders to deliver low-risk decisions quickly via a fully digital customer experience. 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 burdens during pandemic times.

The benefits of using the Mambu platform to provide this are demonstrated by several pioneering clients.

Yanir Yakutiel, CEO of Australian SME lender Lumi, said: “By utilising Mambu’s cloud-native digital lending platform we’ve been able to respond rapidly when market conditions change, updating existing products and launching new options for our customers within days. This has been invaluable during the pandemic as we’ve been able to provide the support that our SME customers have desperately needed – when they really needed it. Mambu’s cloud platform provides speed and flexibility, while also easily integrating with other best-in-class products, so we can bring in the expertise of other high-performing fintechs to build a superior solution.”

Elliott Limb, Mambu’s Chief Customer Officer, 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.”

Myles Bertrand, Mambu’s Managing Director APAC concluded: “SMEs are the backbone of our economy, and it is vital that SME lenders have the technology in place to offer these businesses flexible lending solutions. With Mambu’s cloud lending platform, SME lenders are able to service a diverse range of customers who may have been excluded from more traditional lending services, while also offering more flexible options, faster processing times, and lower overall costs.”

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