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According to the International Finance Corporation (IFC), it’s estimated that there is an unmet financing need of $5.2 trillion every year across 65 million firms, or 40% of formal micro, small and medium enterprises (MSMEs) globally.
At the same time, there is more pressure on SME lenders to deliver low-risk decisions quickly via a fully digital customer experience. Mambu’s SME lending solution is designed for fast new product launch and offers great flexibility in order to quickly adapt to changes. The solution offers a variety of options to adjust loan conditions in order to support borrowers that are in financial difficulties. This flexibility helps clients to better serve SME companies and to release financial burden during pandemic times.
The benefits of using the Mambu platform to provide this are demonstrated by several pioneering clients.
Jason Oakley, CEO of Recognise said: “For too long SMEs have had to do with below average service levels. We know that speed and flexibility are critical for SMEs and the current SME banking providers are no longer fit for purpose. This is why we decided to select a cloud solution early on our journey.”
Elliott Limb, Mambu’s Chief Customer Officer added: “Small businesses have been greatly affected by the pandemic. Whether that’s starting a new company or growing an existing one, there’s never been a bigger requirement for SME lenders to offer the services their customers need. And with Mambu’s composable approach we provide an agile way for our clients to build and shape new financial services around the businesses they want to help.”