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Streamlining MSME lending facility

Platform provides banks and fintech with robust, scalable loan management technology while also giving access to an ecosystem of partners such as web-based identity authentication, credit checks, and loan origination.

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In line with the global initiative to address the financial requirements of the micro, small and medium enterprises (MSME), an SaaS cloud banking platform recently unveiled a digital solution to allow lenders to reduce costs and hasten loan processing.

Mambu said its platform provides banks and fintech with robust, scalable loan management technology while also giving 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 — a critical competitive advantage.

Yanir Yakutiel, CEO of Australian SME (small and medium enterprises) lender Lumi, stated, “By utilizing Mambu’s cloud-native digital lending platform, we’ve been able to respond rapidly when market conditions change, updating existing products and launching new options for our customers within days. This has been invaluable during the pandemic as we’ve been able to provide the support that our SME customers had desperately needed — when they needed it. Mambu’s cloud platform provides speed and flexibility, while also easily integrating with other best-in-class products, so we can bring in the expertise of other high-performing fintech to build a superior solution.”

Yakutiel cited data from the International Finance Corporation (IFC), it is estimated there is an unfulfilled financing need of $5.2 trillion every year across 65 million firms, or 40 percent of formal, MSME globally, with the APAC region accounting for the largest share (46 percent).

At the same time, there is more pressure on SME lenders to deliver low-risk decisions quickly via a fully digital customer experience. Mambu’s SME lending solution is designed for fast new product launches and offers excellent flexibility to promptly adapt to changes. The solution provides various options to adjust loan conditions to support borrowers that are in financial difficulties. This flexibility helps clients to serve SME companies better and to release financial burdens during pandemic times.

Several pioneering clients demonstrate the benefits of using the Mambu platform to provide this.

Elliott Limb, Mambu’s Chief Customer Officer, added: “Small businesses have been greatly affected by the pandemic. Whether that’s starting a new company or growing an existing one, there’s never been a bigger requirement for SME lenders to offer the services their customers need. And with Mambu’s composable approach, we provide an agile way for our clients to build and shape new financial services around the businesses they want to help.”

Myles Bertrand, Mambu’s Managing Director APAC, concluded, “SME 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 can 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.”

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