Singapore – SaaS cloud banking platform Mambu, which has presence in Singapore and Australia, has just recently launched a fully flexible digital solution for SME lenders that aims to cut costs and time to market.
Mambu provides banks and fintechs with loan management technology and 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 which has proven to be a key competitive advantage.
The new SME lending solution by Mambu is designed for fast new product launches and offers flexibility in order to quickly adapt to changes. It 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.
According to the International Finance Corporation (IFC), it is estimated that there is an unmet financing need of US$5.2T every year across 65 million firms or 40% of formal MSMEs globally. At the same time, there is more pressure on SME lenders to deliver low-risk decisions quickly via a fully digital customer experience.
Elliott Limb, Mambu’s chief customer officer, shared that whether it is 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.
“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,” said Limb.