SaaS banking platform Mambu unveils all-digital product for SME lenders

SaaS News - SaaS banking platform Mambu unveils all-digital product for SME lenders (Source: SaaS Industry)
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Germany’s Mambu has unveiled an all-digital product for small and medium enterprises (SME) to help them cut down costs and time to market. It states that the pressure on SME lenders to offer an all-digital customer experience has increased today, driving the need for the new decision

Berlin-based Mambu, a provider of SaaS-based banking platform for financial institutions, has recently launched an all-digital solution for small and medium enterprises (SME) to help lower their overall financial costs and speed up time to market, a press release from the company said.

Mambu, quoting International Finance Corporation (IFC) data, stated that there remains an unaddressed financing need of $5.2 trillion annually across 65 million firms that account for about 40 percent of micro, medium and small enterprises (MSME) across the globe. Additionally, it said that the pressure was more on SME lenders to deliver low-risk decisions quickly via a fully digitized customer experience. 

Mambu enunciated that its solution for SMEs is designed to cater to new product launches and offers greater flexibility to adapt to changes quickly. The solution provides various options to adjust loan conditions, supporting borrowers in financial difficulties. Its flexibility allows clients to serve SME companies better and release financial burdens on them during times like the pandemic.

Mambu, founded in 2011, provides financial institutions of all sizes to design and scale their banking and lending portfolio, a loan management technology and easy access to an ecosystem of partners such as web-based identity authentication, credit checks and loan origination. Myles Bertrand, managing director for the APAC region of Mambu, stated that it is vital for SME lenders to possess the right technology to offer businesses flexible lending solutions and added,

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

Myles Bertrand, managing director for the APAC region of Mambu

Elliott Limb, CCO of Mambu, stated that SMEs were greatly affected by the pandemic and stressed that the requirement has never been greater for SME lenders to offer the services their customers need and added,

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.

Elliott Limb, CCO of Mambu
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