Today’s borrowers have a strong appetite to consume credit in new and different ways, with an ideological shift towards credit products that are flexible, diverse, and needs-based. The challenge for lenders is that traditional deployment architecture is not equipped to plumb in new and alternate data sets, support AI or rapidly deploy innovative new credit offerings. Cumbersome architecture directly impacts the costs to originate and service new lending, and innovate the credit process.
Mambu and RDC are partnering to enable both traditional and neo banks to leverage the latest AI techniques to operate efficiently, configure and deploy rapidly, and mitigate credit risk. Unlocking the value of AI means that lenders are armed with a diverse set of tools to make sound credit risk decisions, even with limited or no readily available data. This is a heightened challenge when banks and lenders are looking to launch new products or target a new lending segment.
In partnership, RDC and Mambu bring AI innovation to life, with cloud infrastructure to support the use of AI in the origination and servicing of the credit lifecycle. The combined value delivered by the two organisations will enable banks to improve workflow and address efficiency issues, achieve faster time to yes, and faster time to fund. RDC’s unique AI-native credit risk solution brings together modelling and decisioning within a single platform, simplifying the traditional credit technology landscape, while enabling lenders to maximise the use of all available data to make accurate predictions and execute intelligent decision strategies.
Gordon Campbell, Chief Product Officer at RDC, said: “The use of AI increases the accuracy of predictions and decisions and can be safely used by leveraging our glass-box explainability. The power to imagine and implement new lending offerings is something we can deliver in this partnership with Mambu.”
Mambu’s SaaS core banking solution offers enormous flexibility and speed, meaning banks and lenders can rapidly configure and deploy new products, giving financial institutions a unique competitive edge.
Myles Bertrand, Managing Director of Mambu APAC, said: “We are excited to be working together with RDC to facilitate innovation and increase the accuracy of lending decisions while also increasing efficiency and speed to market for new offerings. Mambu’s composable approach allows seamless integration via API with market leading solutions such as RDC’s platform, and we look forward to continued collaborations to solve customer challenges.”
Mambu and RDC entered a partnership arrangement in September 2021 and are working together to support a number of lenders in market.