Ferratum Group Selects Mambu to Power SME Lending

Mambu, the Saas banking platform provider, has announced that Ferratum Group that provides leading of unsecured mobile consumer and business loans, has selected it to power Ferratum Business, a new subsidiary focused on small business financing and loan services.

The partnership follows the continued growth of alternative lending opportunities for SMEs as new technologies like the cloud enable non-traditional banking models, said the company in a statement.

With Mambu’s cloud-based platform, Ferratum Business will offer working capital business loans (from 2K to 25K€) to small and mid-sized enterprises in the European Union.

Using proprietary algorithms in conjunction with Mambu’s APIs, Ferratum Business is able to simplify and accelerate the loan application, origination and credit scoring process, allowing for loan disbursements within a day without collateral requirements, it said.

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