Mambu Selected to Support ODX’s Digital Lending Platform for Banks

Mambu’s cloud-native platform will be integrated to maximize agility, customer service and time-to-market

MIAMI, FL / ACCESSWIRE / December 12, 2019 / Mambu, a cloud banking platform, today announced that it has been selected by ODX, a leading provider of small business digital lending solutions for financial institutions and a subsidiary of OnDeck (NYSE:ONDK), to provide servicing technology for ODX’s digital lending platform.

The rapid growth of digital lenders over the past decade has demonstrated that the originations process for small business borrowers can be simplified by modern online applications. Mambu’s cloud banking platform provides scalability and accelerates the online lending process for customers through its APIs and agile cloud-native technology.

“Mambu provides servicing technology that is flexible and sophisticated,” said Raj Kolluri, SVP, Head of Product and Technology at ODX. “Their advanced APIs and configurable architecture complement the ODX technology platform and will enable us to further accelerate our growth.”

Mambu is helping transform banking and lending businesses through its modern, cloud platform that is built to enhance speed and agility in today’s digital-first world. As banking services increasingly turn towards a ‘composable banking’ approach, Mambu’s technology enables clients to develop applications and get to the market faster, fully revolutionizing modern banking and lending services.

“We’re thrilled to work with ODX as they are a leading platform provider of small business digital lending and account opening solutions,” said Edgardo Torres-Caballero, Managing Director, Mambu Americas. “As we continue to see demand for more agile and digital-first core banking solutions in the U.S. and globally, this relationship reinforces the innovative technology that we are bringing to market to enable clients to scale more quickly and better serve their customers.”

ABOUT MAMBU

Mambu was launched in 2011 with the vision to enable access to modern financial services for all. We make this possible by providing a modern cloud-native banking platform that not only competes with core products from traditional players, but changes the market through our composable banking approach. We’re bringing SaaS to banking at a time when it’s needed the most. Our clients range from top tier banks like ABN AMRO and Santander, to leading venture-backed fintechs like N26 and OakNorth to telcos like Globe Telecom. We enable them to build a modern banking or lending offering, in the cloud, by composing a best-for-purpose solution for their needs which is an order of magnitude more agile and cost-effective than the legacy approach to core banking. As a result, we’re taking on the $250B market of banking technology worldwide. We’re currently a team of over 200 people spread between our main offices in Amsterdam, Berlin, Singapore, London, Iași (Romania) and Miami servicing over 130 clients with over 14M end users in over 45 countries. We’ve raised over €42M to date with the latest round led by Bessemer Venture Capital in SF.

For more information, please visit our website or connect with us on Twitter, LinkedIn, YouTube and Facebook.

ABOUT ODX

ODX helps banks deliver superior online lending experiences for customers by digitizing and simplifying the origination of small business banking products. As a subsidiary of OnDeck (NYSE:ONDK), ODX draws on the pioneering fintech heritage of its parent to simplify the borrowing experience for small business customers and streamline the origination process for banks. Providing a proven combination of leading software, analytic insights, and professional services, ODX helps banks efficiently and securely onboard new small business customers. For more information contact BD@odxsolutions.com or visit www.odxsolutions.com.

ODX is a trademark of ODX, LLC.

OnDeck and the OnDeck logo are trademarks of On Deck Capital, Inc.

CONTACT:

Lauren Perry for Mambu
Caliber Corporate Advisers
lauren@calibercorporate.com
952.221.4615

SOURCE: Mambu

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