MAMBU
mortgage lenders are pulling their products , they ' ve got to launch new products quickly and put them to market .
“ But on the flip side of that coin , rates are going up on deposits . They ' ve been at historic lows , which now means people need to react quickly to the market . You ' ve got to be competitive , otherwise your deposits are losing , and customers may leave your business and go to the next bank that is quicker to market with a better product .”
Changes like this in a legacy stack take time . “ There might be lots of testing , you might have to go back to your vendor , and it can take weeks .
“ In the market , weeks is a long time ,” Lawler explains . “ Suddenly either you haven ' t had the mortgage product you want on the market and you ' ve been selling at a lower
rate , or your savings rate is paying too little , which means people are going to your competitors ."
With the global lending market expected to reach US $ 8.9tn in 2025 , and US $ 11.6tn in 2030 , flexibility is key for businesses looking to enter or expand in the personal and business lending spaces .
“ What Mambu is doing is allowing financial institutions to have the flexibility to build a product quickly , launch it to market , and test it in this SaaS model ,” Lawler comments . “ Mambu is a configurable solution . If you had a bank that is wanting to have freedom in their choices of how they serve their customers to work with their own originations partner or build in-house or do their own use flows on digital banking , Mambu supports that .
170 May 2023