The Rise of Fintech and Banking Disruption

2015 Product Releases Recap

2015-product-year-in-review

2015 has been a busy year for the Mambu product team with five major releases and dozens of minor releases. With a growing engineering team – over three times the size of 2014 – we had a chance to invest deeply across the core components of Mambu to bring on new customers and empower our rapidly growing ones.

We always frame our work on the product in terms of investment into three buckets: the core banking engine, the operations enablement and our service layers. Diving one layer deeper, we have the loans and deposits engines, the customer relationship management, the reporting and accounting features and the slew of developer tools like APIs, webhook and custom app extension. There are also numerous and continuous improvements to the performance, scalability and security of the application: both from the infrastructure perspective as well as adding functionality to ensure organizations can set up best security practices in their operations.

Let’s look at a few of the major new functional highlights of 2015 and why we developed them.


 

Loan Fractionalization – both P2P startups and established organizations are moving into providing marketplace-style lending or to securitize their existing loans. Mambu makes it easier to manage this by providing tracking of investors and borrowers, allowing platforms to earn fees and commissions and having end-to-end functionalization of disbursements and payments. This allows our customers and their engineers to focus on their customer-facing experience and bringing more and more investors and borrowers onto their platforms.

 

Revolving Credit – a popular product type for both businesses as well as consumers, used for anything from credit cards to open lines of credit for growing businesses. Mambu had long supported overdraft products but new functionality in revolving credit allow for the dynamic creation and editing of repayment schedules, arrears management and the associated fees and accounting rules allowing our customers to bring a much-needed product to market.

 

Tranched Disbursements – tranched disbursements are a powerful tool for both customers as well as businesses. For customers, it allows them to access capital at the appropriate cycle in their business without having to pay all the interest and fees on capital they don’t yet need and for the lenders splitting a larger loan into smaller planned tranches enables them to reduce risk, conserve capital, improve planning and better service the customers.

 

Balloon Payments – a common product type used across numerous industries, balloon payments are essentially to enable a diverse set of leasing and financing products.

 

Lines of Credit – as SME lending organizations become more sophisticated and also work with larger accounts and deal sizes, they will often be servicing a mix of loan, overdraft and other products. Mambu’s LOC functionality gives them the ability to manage SME financing holistically giving a complete view of all outstanding lines of credit and operational control over limits and constraints for a single customer.

 

Loan Schedule Editing – Modern MSME-focused organizations differentiate themselves on their ability to be customer-centric, in being able to adjust to the needs and realities of MSMEs rather than force them into products that don’t fit their needs. Being able to dynamically adjust schedules, reallocate principal, add, remove or reschedule installments are important pieces of the puzzle to support MSME lending and Mambu now supports all those functions.

 

Unlimited Customer Types – for most of our customers, Mambu is not only their core banking system but their complete CRM and single source of truth of customer and portfolio data. We’ve added the ability to differentiate between different types of customers, from prospects, associates, clients, businesses to groups and more, each with their their own set of fields and controls.

 

Enriched Templates – in addition to generating client statements and contracts customers can now define an unlimited number of templates for customers, products, accounts and transactions allowing them to generate contracts and informational statements dynamically via the user interface or through API calls. Users can also pre-populate tasks, email and sms communications with templates to make these common tasks seamless.

 

Enhanced Custom Fields – customizing the fields for objects in Mambu has always been a core feature of the flexibility of the platform and this year we’ve enhanced it further by allowing creating sets of custom fields, capturing relationships between customers, business and users and allowing related fields to influence the values of others. Keeping internal controls and data privacy in mind, we’ve added new controls and permissions on fields allowing organizations to determine who can view, edit and report on which fields.


 

Along with these major enhancements were hundreds of other smaller new features, improvements and, of course, bug fixes. We added dozens of new APIs, triggers and usability improvements to make Mambu continuously simpler, faster and better to use.

The roadmap for 2016 is already starting to take shape and is now available publically for all to see at roadmap.mambu.com. As a service company we believe that communicating what we’re building and when we’re releasing is important for not only our clients and prospects but for the nature of transparency that we value. We plan to carry this momentum forward in 2016 to not only continue to enhance new functionality across the product but also to start bringing the technology ecosystem around Mambu closer together.