Before today’s digital-first era, creating new lending products came with lengthy timelines, development costs and risks. Today, lenders are leveraging cloud-native technology to configure highly customisable loan products, with the flexibility to determine and change loan terms, interest rates and repayment schedules over time. This automation unlocks possibility for lenders, who can evolve and launch their offering in a few clicks based on changing needs.

With many lending players and solutions on the market, the competition is fierce to attract new business. Banks have the upperhand in that they often possess information about borrowers that could streamline loan applications. Despite this, many still follow manual processes that lead to time-consuming and labour-intensive tasks for the borrower. On a modern tech stack, lenders can link databases through customer-approved, automated open banking technologies to streamline the application process.

Explore end to end automation with Mambu’s core platform, available on the Microsoft Commercial Marketplace.

Manual application processes slow down and complicate the underwriting processes. New technologies facilitated through APIs can instead analyse unstructured documents to pull data and auto-identify missing data and documentation. Mambu’s core platform facilitates the auto-pull of information with straight-through-processing (STP), so key details are at the lender’s fingertips.

Gathering borrower information has often required staff to analyse lengthy documentation; however, new technology is changing the game. With innovations in AI, such as sentiment analysis, lenders can scan materials for required information, while flagging areas that require a human eye. Mambu’s composable core allows connectivity to a suite of tools, through APIs, opening up innovation without the vendor lock-in, which is common in legacy systems.

Why rely on the time-consuming task of compiling credit decisioning inputs through manual methods? Technology-enabled decisioning ensures that presentation templates are auto-populated once approvals are made throughout the credit analysis process. With pre-filled information, lenders save time and can automate the decisioning process to remain the lender of choice.

Explore end to end automation with Mambu’s core platform, available on the Microsoft Commercial Marketplace.

Drafting custom loan agreements with lengthy lawyer time and paper signatures holds back the loan process. On modern core technology, lenders can auto-generate documentation, including e-signatures, to get loan offers in the borrower's hands much faster. In its place, lenders free up resources and can focus on the more human side of addressing borrower questions.

Creating reports and analysing customer data and loan performance  requires significant effort. Mambu manages loan repayment reschedules, allowing flexibility for loans to be processed in single, partial, custom or bulk repayments, either present or backdated.

Refinancing and rescheduling loans formerly required a manual eye, with no data links or notifications. Mambu’s core system automates processes for loan repayments, rescheduling and refinancing. Automation creates a unified customer profile using real-time data to enrich customer perspectives and analytical capabilities in the case of account closures.

Explore end to end automation with Mambu’s core platform, available on the Microsoft Commercial Marketplace.