FinTech: Mambu’s Technology To Drive Commonwealth Bank’s New Digital Mortgage
The new home loan brand from the Commonwealth Brand of Australia is dubbed Unloan.
SaaS cloud banking platform Mambu will power the new, next-gen digital mortgage brand, Unloan, by the Commonwealth Bank of Australia (ASX: CBA), the country’s largest bank. Unloan is a highly innovative product for the Australian mortgage industry launched in May 2022. It provides loan refinancing applications in as little as 10 minutes and a discount that increases every year for up to 30 years. (Mambu)
CBA embarking on digital transformation with Mambu’s technology
“We’ve selected Mambu to underpin our new home loan brand, Unloan, and look forward to working closely with Mambu as we continue to digitally transform our suite of CBA Group brands,” said Brendan Harrap, Chief Architect at CBA. “Partnering with Mambu is an investment in future-proofing CBA. Mambu’s SaaS cloud banking platform will enable us to bring in best-in-class solutions from other high-performing fintechs and vendors, build financial solutions that meet the demands and expectations of our customers, and retain our position as Australia’s leading bank.”
Mambu’s true Saas cloud banking platform enables customers to customize their digital banking systems according to their business needs and those of their end users.
Mambu uses next-gen technology like data analytics, AI and cloud to deliver personalised, agile and flexible finance solutions to consumers.
“There has been a profound shift in the way people think about their finances over the last two years,” added Paul Apolony, General Manager Australia and New Zealand at Mambu, “with significant acceleration in the adoption of digital technologies and greater expectations from consumers. People aren’t content to just get what they’re given anymore; they want personalised customer service and products that are tailored to their circumstances. That’s what Mambu can enable, at a fraction of the cost and much more quickly than traditional banking technology. We are so excited to be working with CBA as it takes this next leap into the digital future.”
Related Story: Mambu To Facilitate Western Union’s Digital Banking In Europe
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