Lending and credit infrastructure platform kennek will launch a new “lender-in-a-box” offering that will be powered by the Mambu cloud banking platform.
Kennek’s Software-as-a-Service (SaaS) platform brings together credit reporting, open banking and data mining providers into one integrated system.
Its new plug-and-play credit infrastructure is aimed at alternative lenders and credit investors. The company says this will allow users to streamline their middle and back office functions and provide access to risk management tools.
Thibault Lancksweert, founder and co-CEO of kennek, said: “The financial market offers many niche technology and data solutions for financial institutions and lenders. But their selection and integration require both a holistic view and a strong team of engineers, which is costly and time-consuming.
Mambu’s managing director for the UK and Ireland, Richard Morgans, adds that the partnership with kennek marks a “significant milestone” for the UK SaaS lending market.
By using Mambu’s cloud platform, Kennek says they can offer a flexible product to customers, allowing them to configure and add different types of loans and credits according to their needs.
The UK-based start-up intends to expand into continental Europe, which it says is currently a €6 billion market that is doubling in size every year. The company also has its eye on expanding into the Americas.