Nimble selects Mambu to pivot into digital banking

Nimble selects Mambu to pivot into digital banking
06.03.2020 10:11 am

Nimble selects Mambu to pivot into digital banking

Banking , SaaS

Nimble, a leading provider of unsecured credit in Australia, has selected Mambu’s market-leading, pure SaaS solution as its new banking technology platform as the company looks to commence its evolution to ultimately offer mainstream digital banking services.

Mambu’s cloud-native platform will allow Nimble to develop innovative lending products in-house, at a rapid pace, while the company begins to explore potential options and experiments with core digital banking product capability.

Nimble, launched in 2005, was the first company in Australia to launch straight-through processing, allowing customers to receive their funds within an hour of confirmation of the loan. It has since provided unsecured credit to more than one million Australian customers and has been recognised for being instrumental in the development of the financial technology industry in Australia.

“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,” said Nimble’s Managing Director & CEO, Gavin Slater. “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.”

Myles Bertrand, Mambu’s Managing Director, APAC, 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.”

The tangible enthusiasm and support from the Mambu team, and their ability to showcase how they can help us achieve our goal, has helped in affirming our partnership going forward.

Jason BarryChief Digital & Innovation Officer, Nimble

Nimble Chief Digital & Innovation Officer, Jason Barry, said, “The tangible enthusiasm and support from the Mambu team, plus their ability to showcase how they can help us achieve our goal, has helped in affirming our partnership going forward. 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.”

Related News

Lunar launches account for teens

Nordic challenger bank Lunar has launched an account and card designed to help teenagers better manage their money.

The app, specifically for... Read more »

Taiwan’s First Neobank Selects Temenos Digital Banking Platform to Launch in Record Time

Temenos (SIX: TEMN), the banking software company, today announced that Next Commercial Bank (Next Bank), has selected Temenos Transact to... Read more »

Financial services organisations are not prioritising compliance in their modernisation efforts – new report from Advanced reveals

Just 6% of financial services organisations say it’s essential for them to modernise their legacy systems to meet current regulatory and legislative demands. This surprisingly... Read more »

Andigo Scholarship To Award $12,500

Andigo Credit Union, based in Schaumburg, IL, announced five college-bound high school seniors as recipients for the 2020 Andigo Scholarship Program. The... Read more »

Forecast by Robocash Group: 5G will boost financial inclusion in emerging markets in Asia

Driving improvements in the digital space, 5G has accelerated financial inclusion in emerging markets in Asia. Analysts of the financial holding ... Read more »

Meniga closes a €8.5m strategic investment round led by Groupe BPCE, Grupo Crédito Agrícola & UniCredit

Meniga, a leading provider of digital banking technology for the world’s largest banks, has closed a €8.5m strategic investment led by customers Groupe BPCE, the second-largest... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel