Kreditech selects Mambu's banking solutions to expand in India

Mambu has announced that it partnered with Kreditech to support the online lender’s entry into the Indian market.

Kreditech currently operates in Europe and LATAM and will expand into India in early 2018, together with its partner PayU, Mambu’s client in LATAM. Mambu’s SaaS banking engine will enable Kreditech to launch a short-term lending product tailored to local consumer and regulatory needs.

The company aims to provide financial services for the underbanked people by using alternative data and self-learning algorithms; Kreditech’s technology is able to evaluate consumers whose credit history is difficult for banks and to provide access to loans.

The loan product is expected to go live in the first quarter of 2018; all data will be hosted by AWS India.