The partnership will provide lenders of all sizes with a flexible end-to-end lending platform that supports loan origination through to loan collections, all via a no-code, configuration-based technology stack. The Mambu/Credisense lending solution will help lenders to keep costs down while enabling them to modernise their technology systems and launch new products and services.
The Mambu/Credisense partnership aims to deliver a modern, cost-effective platform for lenders that is underpinned by a no-code composable development approach, allowing lenders to bring new product development in-house without having to hire engineering-heavy teams. The end-to-end lending solution will benefit lenders of all sizes, and will be especially helpful for smaller, more localised lenders in the market.
Credisense is a cloud native origination and decisioning platform. Core to Credisense is the proprietary no-code functionality allowing for rapid implementation and platform management for businesses ranging from banks and credit unions to telcos and trade credit providers.
It was a fruitful year for Mambu as recently, in October 2022, it expanded its market reach across cloud providers Amazon Web Services (AWS), Google Cloud, and Microsoft Azure. With this new platform expansion, Mambu customers have a choice of provider based on their specific business, technical, and regulatory requirements, located in the same or a different geographical region, without impacting availability or service levels.
Besides this, the company had a handful of partnerships to announce. Only in September it started to collaborate with SWK Bank and Carbon Finance.
When it comes to SWK Bank, it will be contributing its modular banking services in the personal loan and deposit business, while Mambu will contribute its cloud-native banking platform. SWK Bank and Mambu have developed the first marketable module in the investment area in only three months.
As for Carbon Finance, the partnership will allow the company to scale its financial services by offering a full spectrum of banking services. The first product that will be Carbon Zero, its new Buy Now, Pay Later (BNPL) product.
Digitalisation in Asia Pacific
Consumer use of digital banking in Asia–Pacific has entered a stage of acceleration, fueled largely by innovations launched in emerging markets. Nearly nine in ten consumers across the emerging and developed markets of the Asia–Pacific region use digital banking actively, and most of these are open to purchasing more banking services through digital channels.
The shift to digital banking has happened quickly and was likely accelerated by existing trends – such as increasing use of digital channels for diverse transactions, including banking, and broader use of teleconferencing/video calls in place of face-to-face meetings – that have intensified during the COVID-19 pandemic.
As Asia-Pacific consumers turn increasingly to digital channels to manage all aspects of their finances, incumbent banks must weigh carefully the strategic questions above and chart their course forward. To thrive in this increasingly dynamic market, each bank will need to build (or acquire) the technology, talent, and ways of working that will enable it to scale distinctive and relevant innovations quickly and at low cost.
To learn more about Mambu, check out the company profile in The Paypers Company Database.
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