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Mambu, a global cloud banking platform, and Alchemy, a leading cloud-based digital banking solutions provider for U.S.-based financial institutions (FIs), today announced the two providers have partnered to deliver a faster, more agile lending decisioning engine for community banks and credit unions.

Together, the companies have developed a more nimble lending decisioning engine that will enable banks and credit unions to deliver new loan products to the markets in a matter of 60 to 90 days versus the traditional two years or longer process. By integrating Mambu’s cloud-native, API-driven back-end core processing solution with Alchemy’s proven front-end lending platform, banks and credit unions are now able to extend new, innovative lending products both on the consumer side of the business, as well as expanding into the small business lending (SMB) portfolio.

According to Timothy Li, CEO, Alchemy, “Mambu’s proven back-end further enhances Alchemy’s lending process on the consumer side, and also provides the tools needed to expand into other lending sectors, including SMB loans.”

“The combination of the two proven technologies will provide invaluable benefits to community bankers and credit union executives who are trying to quickly expand into new markets by offering innovative, solid loan products. This not only ensures the institution remains competitive, but also maintains their preferred risk threshold,” said Johanna Pugh, Managing Director of Mambu.

“In practical terms, if a bank wants to provide a new consumer lending product, it would normally take two to three years if it relied on its existing lending platform. However on the joint Alchemy/Mambu lending platform, the new lending product can be created, fully vetted and deployed to the public within a matter of 60-90 days.”

The joint Alchemy/Mambu lending platform is available today for implementation and integrates Alchemy’s proven front-end with Mambu’s renowned back-end, providing bankers an end-to-end lending platform that not only saves the institution time and money, but also does not require any internal engineering resources.

Mambu, a modern, cloud-native banking platform and the 2020 Hall of Fame selection, has appeared on the FinTech50 list three times: in 2015, 2016 and 2017. Mambu is changing the market through its composable banking approach, which is the quick and flexible assembly of independent banking systems. Through this platform, Mambu enables customers to build a modern banking or lending offering in the cloud by composing the best product for their individual needs. Mambu’s solution is more agile and cost-effective than the legacy approach to core banking.

Alchemy was founded on the belief that technology, analytics and operations should be executed in concert, flawlessly. The company was founded to take away the back office pain points from clients. Alchemy delivers its core solution and customized workflow for a variety of financial verticals. Their personal loan, line-of-credit, mechanics financing, construction loans and student loan installations are state of the art. The company developed point-of-sales portals for student aid offices and construction offices to qualify and finance customers in real time.

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