Mambu hits its stride in Australia, winning Fintech Award for collaboration with CBA on Unloan

Mambu hits its stride in Australia, winning Fintech Award for collaboration with CBA on Unloan

The Mambu Australia team is still buzzing after winning the award for the Best Fintech-Bank Collaboration at the 7th Annual Fintech Awards, for their work with Australia’s largest bank CBA, on the new digital mortgage brand, Unloan.

Mambu’s SaaS cloud banking platform underpins Unloan, enabling this revolutionary force in the Australian mortgage industry to provide loan refinancing applications in as little as 10 minutes.

After only establishing its Australian entity in January 2022, Mambu is incredibly proud of this award win which is a reflection of both its market leading technology solution, and the depth and breadth of knowledge and experience the Mambu team brings to the market.

“This award win is gratifying on so many levels,” said Mambu’s General Manager for Australia and New Zealand, Paul Apolony. “Not only is it incredibly rewarding to see our ground-breaking work with CBA acknowledged by the industry, but it also gives everyone from Mambu who worked on this project the recognition they deserve for making such a significant impact on the Australian market.”

Mambu & CBA: a synergistic partnership

Mambu is a true SaaS cloud banking platform with a uniquely composable approach that enables the assembly of independent components, systems, and connectors to meet business needs and end-user demands. This approach aligns perfectly with CBA’s goal to understand and anticipate its customers’ evolving needs, utilising next-gen technology like data analytics, AI and cloud to deliver personalised, agile and flexible finance solutions to consumers.

For Mambu, working with organisations that want to make banking better for everyone is at the heart of what the organisation does, so the partnership with CBA aligns perfectly with this ethos.

How next-gen tech can enable Aussie banks and lenders to meet changing customer demands in the mortgage market

When it comes to the mortgage market, Mambu empowers lenders to achieve previously unattainable outcomes. Incremental transformation has demonstrated to banks that it is possible to modernise without digging too deep into their balance sheet to provide an agile banking capability.

Helping banks meet customer expectations at speed

According to a 2020 KPMG survey, digital is the preferred channel for all stages of the mortgage experience. Mambu’s composable architecture and extensive list of APIs ensure a launch of a digital experience in minutes instead of months, so that lenders can attract borrowers with the next level of digital mortgage experience, be it buying a home or refinancing/managing a home loan.

Innovation is key to differentiation

Mambu helps lenders attract more borrowers, achieve fast time-to-revenue and reduce mortgage churn rates by launching products 80% faster compared to on-premise core banking platforms, delivering minimal viable products (MVPs) in 4 months on average.

Mambu also equips enterprises with great business agility to make instant changes and configure mortgage products within weeks instead of months. That means lenders that leverage Mambu’s platform are always ahead of the competition when responding to market threats, opportunities and regulatory changes.

Grow with operational & cost efficiency

Creating market-leading mortgage experience should be supported by a next-generation operating model. Mambu’s exhaustive list of APIs facilitates seamless integration with existing operating systems to eliminate manual and error prone processes, saving up to millions a year on labour costs and remediation costs.

Mambu’s SaaS servicing model means institutions can focus on innovation of mortgage products, not infrastructure setup and IT maintenance, generating up to 40% lower run rate costs compared to on-premise legacy providers.

Mambu’s API-first approach also allows organisations to lower integration costs by up to 50%. In addition, Mambu’s cloud-native platform offers a transparent cost structure, which generates great cost efficiency per acquired customer as the business scales.

De-risking the transformation

Moving to cloud with Mambu reduces risk of downtime and insufficient backups. Mambu provides a 99.99% uptime guarantee for the full service – 2 minutes failover on a single datacentre failure, annual disaster recovery and business continuity testing.

Mambu’s composable architecture eliminates the risk of reliance on a single vendor, offering banks the flexibility to choose from a wide range of authorised partners from Mambu’s ecosystem, or select other trusted partners based on changing needs or regulatory requirements.

Mambu, through a modern digital core offering, provides banks with the chance to upgrade their legacy at a fraction of the cost, allowing a new model of transformation called incremental transformation. Once they drop the load of their legacy cores, banks will experience greater agility, innovation, and efficiency that Mambu’s digital bank customers are known for.

No bank too big… or too small

While Mambu Australia is proud to work with Australia’s largest bank CBA, its innovative SaaS cloud banking platform can offer a technological solution to banks of all sizes, including those in the customer-owned / mutuals space.

The Mambu Australia team will be exhibiting at COBA 2022 on the Gold Coast from 25th – 27th September – get in touch at [email protected] or schedule some time to chat with the team.