Mambu, a SaaS cloud banking platform, has unveiled a fully digital solution for small and medium-sized enterprise (SME) lenders that cuts costs and speeds time to market.
The platform provides banks and fintechs with robust, scalable loan management technology as well as 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.
According to the International Finance Corporation (IFC), it’s estimated that there is an unmet financing need of US$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 said that its SME lending solution is designed for fast new product launch 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 burden during pandemic times.
Myles Bertrand, Mambu’s Managing Director APAC said,
“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.”
