Dineo Crédito migrates from in-house tech to Mambu’s core banking system
Spanish microlender Dineo Crédito has switched to Mambu’s cloud-based core banking platform.
Dineo Crédito selects Mambu’s core banking system
By migrating from its in-house core system, the Madrid-based company hopes to “launch innovative lending products for its growing customer base in Spain”.
This launch will see the expansion of its lending portfolio to include “more traditional lending products with higher loan amounts and longer terms”.
Operating under the Australian Cash Converters group, Dineo Crédito currently specialises in short-term online microloans of up to €300, and claims to have assisted 1.2 million borrowers across Spain and Portugal as part of its commitment to “promoting financial inclusion”.
Its deployment of Mambu’s technology seeks to “enhance its strategic edge” and extend its remit into “diversified financial solutions” in the hope of attracting a “broader range of borrowers”.
Dineo Crédito head, María Sánchez, cites Mambu’s “track record” in the lending space as a key cause for its selection, with the company to join hands with the vendor to “co-create our product roadmap”.
This record was evidenced in Mambu’s recently announced partnership with Dutch lender BridgeFund. Also switching from its in-house system to the vendor’s banking system, the Amsterdam-based start-up hopes to grow its peer-to-peer (P2P) financing platform among the SME community “in the Dutch market and beyond”.
