Nimble, a provider of unsecured loans in Australia, has selected Mambu’s software-as-a-service (SaaS) solution as its new banking technology platform.
Mambu said its cloud-based platform will help Nimble develop in-house lending products, while the company experiments with core digital banking product capabilities.
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Mambu APAC managing director Myles Bertrand said: “The composable nature of Mambu’s platform will allow Nimble to continue to be exactly that – nimble – at a time when the industry is experiencing tremendous, transformative change.
“We’re excited to see how Mambu’s cloud-native banking platform will help Nimble evolve into an innovative competitor in the alternative lending market and, eventually, in the mainstream digital banking market.”
Founded in 2005, Nimble launched its straight-through processing solution which allows customers to receive funds within an hour of confirmation of the loan.
Since then, it has been providing unsecured credit to more than a million customers in Australia.
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By GlobalDataNimble managing director and CEO Gavin Slater said: “While we’ve had enormous success up to this point, we’ve been acutely aware that it was time to diversify and grow the business.
“To do that we knew we’d need to update and improve our technology, to become more agile and responsive to what our customers need as we make the shift into being able to provide comprehensive banking services.
“We’ve always had a reputation for being at the forefront of fintech in Australia, so utilising a cloud-based, customisable engine was a strategic goal from the outset.”
Nimble chief digital & innovation officer Jason Barry added: “Mambu’s product offerings are scalable and have been very simple to use as we take these initial steps to eventually completely transform our business.
“We’re able to design products and offerings to meet specific customer needs, with Mambu’s composable banking platform proving to be agile, adaptable and cost-effective.
“This composable banking strategy is complementary to our own evolving digital platform strategy and is a natural fit with our API-driven design mindset.”
