FinTech: Banking Platform Mambu Ties Up With Digital Lending Platform Ranqx
The two SaaS, cloud-based services will jointly focus on SME lenders and banks.
Global, white-label, SaaS-on-cloud banking platform Mambu will partner with New Zealand-based digital banking platform Ranqx. According to an announcement, RanqX will utilize Mambu’s API-first digital banking platform for loan origination, decisioning, and monitoring as part of a frictionless digital lending experience for small and medium-sized enterprises (SMEs).
The partnership will be a boon for SME banks and lenders. (IBSIntelligence)
Mambu’s cloud-based SaaS banking platform
Top tier banks such as ABN Amro and Santander, reputed fintechs such as N26, and telcos including Globe Telecom and Orange utilize Mambu’s platform. It has also powered Oaknorth, a UK regulated cloud bank with unicorn status.
Said Ben Goldin, CTO/ CPO at Mambu: “Ranqx’s innovative digital lending platform removes the manual processes inherent with traditional loan applications for small and medium-sized enterprises.”
This resulted in cost savings of up to 80 percent. It allowed SME banks and lenders to assess and approve loan applications within five minutes, in a fully digital customer experience.
“This is the kind of innovative tech that Mambu loves to partner with. We look forward to working together to help our mutual customers,” he added.
It is a secure digital lending platform that can be configured to dramatically reduce the time to market. It is of modular, scalable, cloud-native, SaaS solution with easy API integration into lender systems. According to RanqX, it is a fully digital loan origination, decisioning and monitoring platform. It is ideally suited for digitally transitioning lenders’ business models.
Dave Lewis, CEO of Ranqx said, “By partnering with Mambu and aligning our specialist loan origination and decisioning engine with Mambu, we are able to offer SME banks and lenders an unrivaled loan application and credit decisioning process. Harnessing the power of Mambu’s composable banking platform alongside Ranqx’s best-in-class decisioning technology means that together we can offer SME banks and lenders a significantly more efficient and cost-effective service.”
Myles Bertrand, Managing Director, APAC, at Mambu added, “Ranqx has developed a groundbreaking loan origination and decisioning engine. Through our global partnership, we will remove the costly manual overhead currently required to operate SME banking and lending businesses, resulting in money getting where it’s needed, faster. With the world still grappling with the economic impact of the COVID-19 pandemic, improving the efficiency of loan processing is going to be an essential component in our recovery.”
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