Mambu, the SaaS banking platform provider, today announced new capabilities designed to provide small banks, commercial/personal finance companies and microfinance institutions the ability address the complex requirements of lending to small to mid-size enterprises (SMEs).
These enhancements to Mambu’s robust cloud banking platform offer financial institutions the ability to simplify the management of complex loan product and account management needs of business borrowers. Combined with supporting enhancements to their APIs, Mambu has further streamlined the automation of the end-to-end lending process (from marketing online origination, to credit scoring, disbursement payment and collections) with minimal complexity and engineering efforts with these updates.
“As traditional banks have neglected the unique needs of SME financing, there’s a growing opportunity for both new and existing financial institutions to address the pressing needs of this global market.” said Eugene Danilkis, CEO and co-founder of Mambu. “The latest improvements to our banking platform enables our existing and prospective customers to quickly and simply provide the sort of diverse and flexible products that small businesses need without adding complexity in technology or infrastructure.”
Mambu’s latest enhancements include the ability to launch and service an enhanced set of lending products, including:
• Multi-account credit arrangements to allow for sophisticated SME financing across a mix of both term loans and open lines of credit
• Tranching term loan products for lower financing risks by staggering capital disbursements through the life of the loan
• Balloon payments for real estate and auto-lending products
• Asset-backed lending including tracking securities and guarantee collateral through the origination process
• Bespoke schedules allowing lenders to custom-tailor their products based on the unique needs of the business
From powering disruptive new entrants to transforming traditional financial institutions, these enhancements will enable more financial institutions to add much-needed SME financing into their product suite. Mambu’s CRM capabilities have also been enhanced to support tracking and reporting of relationships between businesses and individuals, automating the generation of contracts, statements and communications to business stakeholders via custom SME and email communications.
These new capabilities will be available to all new Mambu customers in the next platform update due out in Q3.