MAMBU with their own originations partner or build in-house or do their own use flows on digital banking , Mambu supports that .
“ Whether it be a mortgage application or a deposit application , we can support that , power it , we can take the relevant customer fields in ,” he says . “ We allow our customers to basically be their own institution , support their own needs , but powered by a global solution .”
components that can be selected and assembled in various combinations to satisfy specific user requirements .
“ We do across-the-board current accounts ,” Lawler explains . “ And we support lenders through one single code base . It ’ s one platform globally , it ’ s SaaS . We regularly push new releases to make sure our clients are on the latest version . That ’ s part of what we do .”
With the current turbulent economic times , financial institutions are having to act quickly , launching and scaling products at speed . As Lawler describes , Mambu provides financial institutions with the flexibility to build a product quickly , launch it to market , and test it , all in a true SaaS model .
“ What we ’ ve seen is there ’ s a big change in the market that works for both mortgages and savings ,” he says . “ The interest rate changes we ’ ve seen have meant mortgage rates have increased . So that means 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
Giving power to customers As Lawler explains , ultimately the goal for Mambu is to give power to its customers . “ A customer will have the same solution in Brazil that they will in the UK or in Australia . But each of those customers will be using that solution in a slightly different way and then putting orchestration and configuration around it for the way they want to work .
“ What we give them is that freedom . From a mortgage perspective , they might be tied into legacy stacks with big change requests , and delays in product changes . We remove that for them , we allow them to update products quickly , and plug-and-play withthe partners they choose .”
With its cloud-native platform , Mambu allows financial institutions
“WE SUPPORT LENDERS THROUGH ONE SINGLE CODE BASE . IT ’ S ONE PLATFORM GLOBALLY , IT ’ S SAAS ”
NICK LAWLER MARKET DIRECTOR , MAMBU
94 fintechmagazine . com | June 2023