Fintech Powerhouse GoBear Partners with Mambu to Reach Unbanked and Underbanked Regions in Asia
In a major fintech update, leading consumer financial services provider GoBear has announced its partnership with Mambu to boost neo-banking adoption in South East Asian countries. Mambu, a leading provider of Finance Cloud banking platform, will provide SaaS solutions to help GoBear penetrate into the unbanked or under-banked population of the region.
Mambu, known for its banking SaaS platform already provides future-ready fintech solutions to some of the largest financial services companies, digital banking apps, telecoms, and fintech startups.
Mambu has been particularly active in Asia, especially in Vietnam since the start of 2020. In February, Vietnam’s leading commercial retain banking institution MSB tapped Mambu’s Cloud-native banking platform to pitch for its rapid digital transformation. At that time, MSB’s Chief Digital Officer, Bryan Caroll had said, “There’s no denying that the future of banking is digital. We’ve selected Mambu’s composable platform to build Vietnam’s first digital-only bank as it is fully scalable, allowing us to grow quickly and respond with agility to customer needs as they arise. The Mambu platform is also completely configurable, meaning we can design it to meet our specific requirements.”
Earlier, Mambu had announced its partnership with Google Cloud Platform (GCP). With GCP as a Cloud provider, Mambu is expected to further grow its reach and seamlessly deliver neo-banking financial services around the world, especially in the underbanked regions in SE Asia, Africa and South America.
Mambu and GoBear’s alliance is established with Credo Lab’s support and recommendation. Credo Lab has been working with GoBear in the past. The tripartite alliance demonstrates the flexible and highly agile approach Mambu works with its ecosystem of partners to build effective end-to-end solutions for customers.
GoBear has also roped in Credo Lab in this initiative to serve the underbanked populations in SE Asia. With two powerhouse fintech-centric companies as its ally, we can expect accelerated accelerates digital lending business across the region.
Peter Barcak, CredoLab’s CEO, said: “CredoLab’s light mobile SDK, easy to integrate API, and accurate credit score have already been chosen by over 70 banks and lenders globally. Our ability to generate a credit score for customers who cannot prove their creditworthiness in the conventional financial system makes us uniquely positioned to support GoBear as they diversify their business and move into lending in a controlled way”.
Mambu’s innovative composable banking solution will form the core system in GoBear’s lending architecture to expand in the Philippines in 2020, with additional markets to follow.
At the time of this announcement, GoBear’s Chief Lending Officer, Mike Singh, said: “Having access to responsible credit should be a financial right for all. Tapping into fintech solutions like Mambu and CredoLab’s brings us one step closer to making this a reality for the region’s 296 million unbanked or underbanked.”
As per a recent article published on the internet, GoBear has also received $17 million funding in May 2020.
Myles Bertrand, Mambu’s Managing Director APAC, said: “In less than five years of operation, GoBear has built a stellar reputation as a leading financial services platform and we envisage great things for the company as it continues to build its lending business. Our cloud-native technology allows GoBear to transform, add new products and grow while maintaining its reputation for outstanding customer service.”
On 2 July, Mambu, together with CredoLab and GoBear will be hosting a webinar on “Decoding the customer journey with digital technology”.
Source: Mambu
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