Nimble, a provider of unsecured credit in Australia, has selected Berlin-based Mambu’s pure SaaS solution as its new banking technology platform as the company has revealed its intention to ultimately offer mainstream digital banking services. The cloud-native platform will allow Nimble to develop lending products in-house, at a rapid pace, while the company begins to explore potential options and experiments with core digital banking product capability.
“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,” stated Gavin Slater, Managing Director & CEO, Nimble. “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.”
Jason Barry, Chief Digital & Innovation Officer, Nimble elucidated, “…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.”
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Nimble was launched in 2005, and it provided straight-through processing, allowing customers to receive their funds within an hour of confirmation of the loan. It has since offered unsecured credit to over 1 million Australian customers.
Myles Bertrand, Managing Director, APAC, Mambu 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.”
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