" class="no-js "lang="en-US"> Alba Bank partners with Mambu to enhance their SME Lending
Monday, February 26, 2024

Alba Bank partners with Mambu to enhance their SME Lending

Scottish Neobank Alba Bank today announced that it will migrate to Mambu’s cloud banking platform to manage its small and medium-sized enterprise (SME) lending services, as well as its retail and business deposits.

Dh’ainmich banca ur Albannach Alba Bank an-diugh, gun imrich iad gu àrd-ùrlar bancaidh sgòthach Mambu gus na seirbheisean iasaid iomairt bheag is meadhanach (SME) aca a riaghladh, air na tasgaidhean reic is gnìomhachais aca cuideachd.

Alba Bank understands the unmet challenges faced by SMEs, and are currently working to develop products and offerings that will allow them to thrive. By switching to Mambu’s cloud banking platform, Alba Bank will be embracing a composable approach, enhancing its agility and speed to market.

Tha Alba Bank a’ tuigsinn nan dùbhlain nach deach a choileanadh a tha mu choinneamh SME, agus tha iad an-dràsta ag obair gus toraidhean agus tairgsean a leasachadh a leigeas leotha fàs gu luath. Le bhith ag atharrachadh gu àrd-ùrlar bancaidh sgòthach Mambu, bidh Alba Bank a’ gabhail ri dòigh-obrach a ghabhas dèanamh, ag àrdachadh cho sùbailteachd agus cho luath sa e don mhargaidh.

Over the last five years, over half (58%) of UK SMEs have been unable to secure any or sufficient funding to cover the needs of their business, on at least one occasion, according to a report by Mambu. And 93% would consider switching lenders if a competitor provided a better service.

Thairis air na còig bliadhna a dh’ fhalbh, tha còrr air leth (58%) de SME na An Rìoghachd Aonaichte air a bhith comasach air maoineachadh sam bith no gu leòr fhaighinn gus coinneachadh ri feumalachdan an gnìomhachas, co-dhiù aon turas, a rèir aithisg le Mambu. Agus bheachdaicheadh 93% air luchd-iasaid atharrachadh nan toireadh farpaiseach seirbheis nas fheàrr seachad.

Nick Lawler, Market Director, Northern Europe at Mambu, says:

Thuirt Nick Lawler, Stiùiriche Margaidh, Ceann a Tuath na Roinn Eòrpa aig Mambu: “We are delighted to kick off our work with Alba, Scotland’s newest bank. Now more than ever, the availability of finance is key to the success of all SMEs. Pain points for this segment need to be properly acknowledged by banks, as success rates for loan applications are 20% lower than for large enterprises. By pivoting to Mambu, along with a growing number of neobanks in the UK, Alba is in good stead as it continues to transform this sector of banking, supporting small and medium-sized businesses to reach their potential. We look forward to working with Alba as it supports direct lending to SMEs and fuels economic growth in Scotland and the wider UK region.”

Alba Bank has successfully secured a UK banking licence, and has moved into mobilisation as it aims to support SMEs to grow and realise their potential.

Alba Bank air cead fhaighinn bhon An Rìoghachd Aonaichte gu soirbheachail, agus tha iad air gluasad a-steach gu bhith ag obair agus iad ag amas air taic a thoirt do SME gus an comas fhàs agus a thoirt gu buil.

Sandeep Kadam, Chief Technology Officer at Alba Bank adds:

Thuirt Sandeep Kadam, Prìomh Oifigear Teicneòlais aig Alba Bank: “We’re excited to be working with Mambu, and fully embrace a cloud-first approach as this will enable us to build our products quickly, and adapt to ever-changing market demands. At times when SMEs are being underserved by traditional lenders, speed to market is crucial – especially as SMEs are the backbone of the UK economy.”

By partnering with Mambu, Alba will be able to build a bank in a digital-first, future-proof way. In addition to this, Alba will address and overcome the challenges of building products and services quickly while having access to world class partners, including Mambu.

Le bhith ann an com-pàirteachas le Mambu, bidh e comasach dha Alba Bank banca a thogail ann an dòigh didseatach an toiseach, a dhìonas san àm ri teachd. A bharrachd air an seo, bidh Alba Bank a’ dèiligeadh agus a’ faighinn thairis air na dùbhlain a tha an lùib a bhith a’ togail thoraidhean agus sheirbheisean gu sgiobalta fhad ‘s a bhios cothrom aice air com-pàirtichean aig ìre cruinne, Mambu nam measg.

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