This client group, which the companies cite as an underserved $1.6 trillion (£1.2 trillion) opportunity, will offer commercial lenders a cloud-based solution to design, configure, and implement new lending products.
“Mambu’s composable banking approach blends perfectly with our vision for a brand-new mid-market transactional banking and trade infrastructure,” said Roger Vincent, Chief Innovation Officer at Trade Ledger. “Through an API-driven architecture, the Trade Ledger and Mambu platforms come together with Mambu Process Orchestrator allowing our customers to significantly reduce the cost of loan origination and servicing, improve customer experiences (internal and external), and rapidly increase the volume of their loan book – all without significant investment in more staff or resources.”
Mambu launched its composable banking concept to help financial services companies “compose the bank they want to be.” This approach enables banks to choose the best third party vendor for each process by facilitating as many integrations as the bank wants. And because technology is continuously evolving, Mambu allows banks to swap out integrations independently when they want to switch providers.
Mambu has raised almost $47 million in funding (€42 million) from investors including Bessemer Venture Partners, Acton Capital Partners, and CommerzVentures. The Berlin-based companymade its Finovate debut at FinovateAsia 2013 in Singapore. Last month, Mambu signed UK-based SME challenger bank Recognise.