INTELLIGENT SECTION
FINANCE SALES & MARKETING HR SOLUTIONS EMPLOYEE ENGAGEMENT
Mento launches on Mambu to improve financial inclusion
Mento , a Chilean digital lender providing credit , payments and other financial services , has gone live on Mambu ’ s SaaS cloud banking platform , extending loans via cloud technology to overlooked segments of the population .
Mento caters to underserved portions of society , often deemed as unprofitable by incumbent banks due to market and regulatory constraints .
The lender differentiates itself in the bustling FinTech space by taking a new approach to collecting and analysing data when extending credit , focusing more on individual cases , history and other personal information to complement or even stand in place of historical salary figures . known to fill . For this reason , our ability to form strategic alliances with first-rate partners is fundamental to our mission .”
Mambu ’ s SaaS platform offers maximum flexibility and speed , enabling FinTechs to interact with banks , other FinTechs , regulators and partners involved in origination procedures , vetting and processes to enhance and improve the availability of financial products to millions of Chileans .
Martha Malaver , Mambu ’ s Country Manager , added : “ Mambu recognised early on the fundamental role financial technology companies like Mento play in improving financial inclusion and more comprehensive and sustainable economic development . Technology is at the forefront of these efforts and Mambu provides the digital core to support entities like Mento who will make a positive difference .”
Looking ahead , Mento plans to expand its offering and become a regional player in Latin America ’ s financial services industry . New products and services such as updated payment buttons and the use of physical cards will empower countless unbanked and underbanked individuals , once shut out of the formal economy , to bank and borrow more easily and efficiently . x
Many contract workers , self-employed individuals and small business owners in Chile don ’ t have the necessary documentation to request lending and are therefore turned down by traditional banks . Mento takes a more data-driven approach to loan vetting and origination .
Additionally , Mento can help arrange access to loans and other services to demographics often overlooked by traditional financial institutions , due to outdated procedures conducted on restrictive legacy tech systems .
Alex Rossi , Chief of Product , Mento , said : “ Thanks to a successful launch of the first version of our lending product , we can confirm that we have been attending to very real and relevant needs of the population , a key indicator that we are advancing on the right path .
" We firmly believe that we have an opportunity to grow and fill the voids that actors in the traditional financial industry have not wanted and have never been
48 www . intelligentcxo . com