The tide turns for UK SMEs with Mambu

Tide, the UK’s leading business financial platform, scales rapidly, reaching 1 million SMEs in the UK and beyond, with Mambu powering their growth and innovation.

1 in 8: UK small businesses on Tide

1m: members globally

2: months to implement Mambu

TIDE

About the customer

Tide, founded in 2015, has quickly become one of the leading financial platforms for small and medium-sized businesses (SMEs) in the United Kingdom. Tide helps SMEs save time (and money) in the running of their businesses by not only offering business accounts and related banking services, but also a comprehensive set of highly usable and connected administrative solutions from invoicing to accounting.

With over 1 million SMEs globally on their platform, Tide has expanded into new markets and continues to drive innovation in financial services.

650,000 members in the UK and 350,000 in India
1,800 employees globally
Named one of CB Insights global Fintech 250 and Beahurst’s The Fintech Top 50 for the UK in 2023

The challenge

Scaling lending products for rapid growth

As a fast-growing fintech, Tide needed to scale its services, particularly its lending products, while ensuring flexibility and rapid deployment. In 2019, the company set out to launch a new suite of lending products, including revolving credit for businesses.

Tide didn’t want to build the solution from scratch; they looked for a tried-and-tested solution, a scalable platform that could handle their growing ledger, manage lending portfolios, and deliver accurate accounting and reporting at scale.

To assess and compare potential banking platforms, Tide issued an RFP, as a result of which Mambu was selected.

“We looked for a tried-and-tested solution which could help us scale quickly and efficiently, and that’s where Mambu came in.”

- Amit Kahana, VP of Credit Services, Tide

The solution

A composable cloud-native core

Taking a cloud approach, Tide chose Mambu as their core engine underpinned by Amazon Web Services (AWS). Tide’s main objective was to scale up its operations and revamp its product offering, with a unique requirement to build the revolving credit for businesses. The team built, tested and launched the new product in just three months.

By partnering with Mambu, Tide is able to create compelling new products and revamp its offerings for customers, including larger overdrafts, credit cards and invoice financing.

Choosing the low-code route and involving partners that offered lean and flexible solutions allows Tide to focus development efforts on customer-facing value creation and configurations.

The result

Driving efficiency for long-term impact

Since the launch of their new lending products, Tide has seen significant growth in its customer base and product adoption. Today, 1 million SMEs use Tide’s platform for their business banking needs, making it one of the UK’s fastest-growing banking services for entrepreneurs and small businesses.

Additionally, Tide is continuing to expand into new geographies, with their recent launch in Germany.

With the support of Mambu’s platform, Tide plans to keep expanding its product portfolio continuing its mission of revolutionising how SMEs manage their finances.

“Mambu has an impressive track record of delivering the type of products and services we need to provide our members with, as well as accounting tools which make our finance department’s life much easier.”

- Amit Kahana, VP at Credit Services, Tide