Eugene Danilkis, CEO & Co-founder
The latest horde of technological innovations has changed not only the way an enterprise operates, but has also had a significant modification in their business interface. With cloud technology offering a host of simple and easily accessible solutions, more and more operations are moving towards a cloud based platform. Traditionally, banks have had a very expensive, slow and cumbersome process in place for financial transactions, leading the way for innovative technology to offer solutions which are rapidly posing a threat to these incumbent large financial holdings. By integrating banking services into a cloud based platform, Mambu offers a SaaS banking platform that provide small banks, commercial/ personal finance companies and microfinance institutions the ability to address the complex requirements of lending to Small and Medium Enterprises (SMEs).
Cloud technology and SaaS provide financial services organizations the opportunity to bring banking services to the 21st century, offer customers better experience, more product choice and address markets underserved by the large incumbents. “As traditional banks have neglected the unique needs of SME financing, there’s a growing opportunity for both new and existing financial institutions to address the pressing needs of this global market.” says Eugene Danilkis, CEO and Co-Founder of Mambu. With cloud computing at the helm of their delivery module, Mambu enables a quickly configurable user interface which supports any product, data requirements or workflow. Mambu helps provide flexible and scalable solutions, whether it’s launching a new loan product into the market or integrating all of their customers’ data into a seamless system which gives them a complete view of all their clients and business in one place.
In addition, the banking landscape is changing, with Big Data, smartphones and new payment gateways all playing a major role in the re-shaping of the financial sector. Mambu helps keep pace with the customer’s
expectations by rapidly integrating new services and leveraging new distribution channels to expand. “Mambu gives banks and other financial innovators the opportunity to reach previously untapped markets, dramatically transforming how they design, deliver and service the world’s underbanked individuals and businesses,” Danilkis notes. The company’s cloud based SaaS platform provides for a transparent and integrated accounting, giving customers a complete view of every transaction, every account change, and every update to client information in real time.
Mambu gives banks and other financial
innovators the opportunity to reach previously untapped markets, dramatically transforming how they
design and deliver their services
Having effectively equipped a number of microfinance institutions with their cloud based banking solutions, Mambu has acquired a name for itself. Case in point, Mambu was selected by Opportunity International (OI), the global microfinance network, as its core banking platform for small and medium business lending in China. OI China looked to expand its small business lending capabilities by offering SMEs loans of $20,000 up to $1 million. “Leveraging cloud technology and greater integration with mobile channels were key goals in our strategic roadmap, and Mambu’s cloud banking platform offered us the perfect solution in both areas,” said Robert Westcott, CIO at Opportunity International. Keeping their financial needs in sight, Mambu established a cloud environment with the Chinese e-commerce Alibaba’s cloud computing subsidiary Aliyun; the servers and datacenters for which are located in Beijing, China. This enabled them to create a cloud-native platform that could support rapid new product development, get to market quickly, and easily integrate with mobile, thus increasing OI’s reach in rural China.
Today, with technology leading innovation, it’s imperative for the banking sector to integrate their services with the latest trends, and Mambu is the ideal solution as it helps banks, microfinance institutions, and other financial innovators to deliver essential banking services to individuals and emerging enterprises around the world.