The app was launched in April 2024 and is built on Mambu’s cloud banking platform, which powers lending solutions.
Good Money aims to address the issue of high-interest informal lending by providing accessible and fair loans for underserved Thai citizens. The app leveraged Mambu’s composable cloud-native lending engine to go live in eight months, and it is underpinned by Google Cloud’s integrated platform services. These include workload-optimised infrastructure, database management, container orchestration, hybrid networking, and security. This ensures scalability and high performance, as well as low latency.
The app utilises tech for assessing repayment capacity and adjusts interest rates based on borrower’s financial behaviour. This approach ensures that the lending process is transparent and responsible for both customers and banks. It also offers personal loans and nano finance options, with interest rates starting at 19% annually. These features cater for both SMEs and personal needs.
During the pilot phase of the project launch, the app processed 100.000 loans and managed approximately EUR 5 million. Its target is to reach 500.000 borrowers in the next four years and achieve a tenfold loan uptick.
Money DD chose Mambu for its ability to deliver scalable, customer-centric financial solutions. With Mambu’s cloud-native tech and Google Cloud’s serverless architecture, the app is designed to deliver a comprehensive digital lending experience and help create financial inclusion and a more equitable financial ecosystem in Thailand.
Mambu mentioned that the partnership is a step forward in its growth journey across the Asia Pacific region. This collaboration is strengthened by Money DD’s vision to ensure fair financial support for Thailand’s citizens, which aligns with Mambu’s mission and values.
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