Cloud banking platform Mambu and newly launched mortgage lender Interbridge Mortgages have formed a strategic partnership, to help facilitate the lender’s entry to the UK second charge market.
Interbridge Mortgages required a core banking solution that could integrate within its broader SaaS ecosystem, including its customer relationship management (CRM) systems and third-party solutions for payment collections and processing.
Mambu was chosen for its integration capabilities, low-code and no-code configurability, and track record in the global lending space.
Leveraging Mambu’s retail mortgages offering, Interbridge Mortgages has launched its second charge mortgage solution with sixteen variants, including both variable and fixed rates, with and without early repayment charges (ERCs).
The flexibility of the Mambu platform allowed them to configure and deploy all sixteen product variants in as little as nine months without code-writing.
The partnership with Mambu allowed the lender to generate income from day one, already supporting 1,000 customers.
Jonny Jones (pictured), CEO at Interbridge Mortgages, said: “As a new lender, we needed a fast, efficient solution to enter the market without overextending our resources while also equipping us with an extensive mortgage platform to ensure we’re ready for future growth.
“With Mambu, we launched our second charge mortgage offering, including all sixteen product variants, in just nine months.
“Three months after the launch, we’ve already supported 1,000 customers and distributed £60 million in loans.
“Reaching these significant milestones in such a short time is a testament to the flexibility and scalability of the Mambu platform, making them the ideal partner for our growth.
“We look forward to continuing this partnership as we build on our phenomenal launch.”
Mark Geneste, chief revenue officer at Mambu, said: “We are thrilled to be working with Interbridge Mortgages and have the pleasure of witnessing their venture into the second charge mortgages market.
“The lending market is constantly changing and cloud-based solutions have proven to be the best way to meet this change head on.
“Mambu’s mortgage products provide endless benefits for lenders by helping to provide the agility, flexibility, and innovation that lenders need to stay competitive and consistently meet customer expectations.
“It is great to see that Interbridge Mortgages have experienced these benefits since implementing our core banking platform.
“We look forward to continuing to collaborate and help to transform the lending landscape going forward, creating a space where innovation meets customer expectations.”
