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access to loans and other services to demographics often overlooked by traditional financial institutions due to outdated procedures conducted on restrictive legacy tech systems.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.
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