Tech

Raiffeisen Digital Bank picks Mambu to launch mobile lending service

Users can request loans of up to €22,000 in a “fully digital” system. ...

Raiffeisen Digital Bank, a Polish operation from Austrian banking group Raiffeisen, has gone live on a new mobile lending solution from Mambu.

Raiffeisen says it needed cloud-native technology

The bank is aiming to offer its customers fully digital loans in an “easy and fast manner”. Using the new solution, customers can request loans of up to €22,000 with a repayment period of 60 months.

Mambu says its platform enables the bank to develop “highly automated seamless architecture” which enables shorter development cycles.

“The uptake of digital banking and lending products in Poland and across the entire region is increasing rapidly,” says Jakub Malach, head of lending at Raiffeisen Digital Bank.

“We knew that only an advanced cloud-native technology would give us the competitive edge and the ability to reach new markets rapidly.”

The bank worked with Mambu remotely during the implementation period due to restrictions brought about by the coronavirus pandemic.

“Covid-19 has shifted customer behaviour towards digital banking, making RCB’s new product relevant and timely,” says Elliot Limb, Mambu’s chief customer officer.

He adds banks need flexibility to change and adapt their products, and that his firm can provide that where other vendors can’t.

Recent Mambu wins include Chilean lender BancoEstado, Vietnamese digital banks Cake and Timo, and Colombia’s Financiera Dann Regional.

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