PRODUCT UPDATES
Innovation highlights from April 2024
At Mambu, innovation is our heartbeat. We're on a relentless journey to refine and perfect our cloud banking platform, empowering financial institutions worldwide to not just meet but exceed the expectations of today's customers. Dive into the latest enhancements in our platform, shining a spotlight on lending, core services and cards.
Lending
Customise fee structures to suit your needs: Introducing custom penalty fee calculations with Functions
Expanding upon the release of our first extension point for custom deposit fee calculations, we're thrilled to unveil yet another powerful addition to Mambu Functions: a core extension dedicated to bespoke loan penalty fee calculations.
Throughout the Latin American region, it's customary for financial institutions to levy loan penalty fees per-instalment, taking into account the number of days a payment is overdue. Our latest core extension in lending empowers our customers with the flexibility to craft tailored penalty fee calculations, ensuring our lending solution can align seamlessly with their unique requirements–whether it's calculating penalty fees based on overdue principal, accrued interest, account balances, custom fields, index rates, or any other parameter.
Core extensions play a pivotal role, not just in preserving the agility of our cloud banking platform, but also in delegating complex business logic to Functions, therefore enhancing overall operational efficiency within the Mambu core.
Mambu Functions is available in Early Access (EA) for customers on Amazon Web Services (AWS)
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