The lender’s approach to collecting and analysing data when extending credit focuses on individual cases, history, and other personal information to complement or even stand in place of historical salary figures.
Many contract workers, self-employed individuals and small business owners in Chile don’t have the necessary documentation to request lending and are therefore turned down by traditional banks, according to Mento. The company can help arrange access to loans and other services to demographics often overlooked by traditional financial institutions due to outdated procedures conducted on restrictive legacy tech systems.
Mambu’s SaaS platform enables fintechs to interact with banks, other fintechs, regulators, and partners involved in origination procedures, vetting, and processes to facilitate the availability of financial products to Chileans.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.