Mambu Supports Retail Lenders

Mambu has increased its support for retail lenders of all sizes who are looking for agile and scalable lending capabilities, including instantly approving and disbursing loans.
This comes as demand for loans are expected to rise sharply as the COVID-19 pandemic recede. 
Some demand will come from people reassured that life is getting back to normal while some from those who need increased purchasing power.
“Many lenders are held back by legacy system complexity. They are unable to react quickly when needed, Mambu’s chief customer officer Elliot Limb said. 
“This costs them competitive advantage. When today’s consumers choose a financial provider, they are looking for fast decisioning and a frictionless experience – and that comes with Mambu technology,” he added.
Mambu gives banks and lenders loan management technology and also access to an ecosystem of partners, including those providing web-based identity authentication and credit checks. 
These partners are vital to lenders wanting to offer speedy loan application and approval as well as those wanting to offer flexible terms or payment options.
Numerous lenders have already turned to Mambu for the new technology that will enable them to meet increased demand for both traditional and point of sale (buy now, pay later) finance solutions.
Among them are ZestMoney, India’s largest and fastest-growing consumer lending fintech company, selected Mambu for the agility and accuracy of its products.
“India’s dramatically changing financial market means we need a high level of infrastructure responsiveness. 
“Mambu’s composable architecture allows us to react quickly to market changes by launching new products and services and adapting old ones in weeks, even days. 
“We can now plug and play, and reassemble products to better suit our customers’ changing needs,” ZestMoney’s co-founder & CEO, Elizabeth Chapman said.
Finnish mobile finance provider also tapped into Mambu to integrate and scale a suite of new products that can be customised to meet the needs of different markets. 
According to Ari Tiukkanen, COO at Ferratum, Mambu brought all of Ferratum’s business loan management into one accessible and composable architecture.
“This allowed us to quickly and efficiently address a globally underserved segment of the market,” said Tiukkanen.

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