New UK bank Ashman live with Mambu’s core banking tech
Ashman, a new bank in the UK serving small and medium-sized enterprises (SMEs) in the commercial real estate sector, has gone live on Mambu’s core banking system.
Ashman live with new core banking system
The new back office system, delivered on a hosted basis, underpins the bank’s loan offering and interfaces with nCino’s Bank Operating System.
Ashman secured its restricted banking licence in mid-2022 and is currently in the mobilisation phase prior to full regulatory approval. Once fully launched, it will offer bridging loans, buy-to-let mortgages, commercial mortgages and property development finance ranging from £100,000 to £5 million.
“Ashman will enable property entrepreneurs to move fast, win fast, be decisive and go after the opportunities they see,” says Simon Healy, chief operations officer (COO) at Ashman.
“We’ll be entirely digital, focused on delivering speed and a personalised service to our intermediary partners and clients.
“We sought a partner with the technical capability and robust cloud infrastructure to meet the needs we have today. Together with the synergy in people, culture and strategy, we were confident that Mambu could support our growth and evolution in the longer term.”
Mambu claims to be “the world’s only true Software-as-a-Service (SaaS) cloud banking platform”.
Launched in 2011, it now employs 900+ people and supports 230 customers in over 65 countries, including Wio Bank in the UAE, Carbon Finance in Nigeria, Kapitus in the US, and WU+, Western Union’s new mobile app. In the UK, its clients include SME banks Allica and OakNorth.
