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Mexican Financial Innovator Kueski.com Chooses Mambu's Banking Platform

MEXICO CITY, February 6, 2014 /PRNewswire/ --

Kueski.com, a financial services innovator based in Guadalajara, Mexico, has selected Mambu's cloud banking platform to run its fast-growing consumer lending business. Launched last year, Kueski.com provides online loans nationwide, using a complex risk algorithm that draws on multiple sources of data including a customer's social media profile, to assess creditworthiness.

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Kueski.com aims to eradicate the 'computer says no' response that many customers receive as a result of inflexible credit assessment capabilities from traditional lenders. The first business of its kind in Mexico, Kueski.com delivers quick lending decisions, enabling customers to apply online, get decisions instantaneously, and receive their loans in under an hour.

Kueski.com's customer base has rapidly grown, with double digit increases month on month since launch, so the company needed to replace its homegrown internal system, with a flexible platform that could be quickly implemented and easily scale, as the business seeks to support pent-up demand, largely from salaried workers, for access to credit in Mexico.

Adalberto Flores, co-founder and chief executive of Kueski.com said: "We believe that customers should be able to access credit, quickly and easily, when they need it, without having to take time out of work to visit a branch, or wait days for the outcome of an outdated credit review process. With Mambu supporting our operations, our customers get a flexible transparent service that delivers what they need with no fuss and no delay. We chose Mambu because their flexible platform supports our product portfolio ambitions today and in the future, and their team demonstrated the commitment and global experience required to support our growth as a successful financial services business."

Eugene Danilkis, co-founder and chief executive of Mambu, said: "New financial innovators like Kueski.com are helping meet an overwhelming demand for essential banking services in fast-growing markets such as Mexico. Using cloud technology as an enabling force, Mambu is helping change the way financial innovators approach, design, and execute services that extend financial inclusion to the underbanked."

Kueski.com approached Mambu in December 2013, and was up and running on the Mambu platform by early January 2014.

About Kueski

Kueski is the leading online micro-lending platform in Mexico and Latin America. The company uses big data and advanced analytics in order to approve loans in a matter of minutes. Simple, paperless and available 24/7, Kueski is the most convenient lending platform for those who need an immediate loan. The company has become the fastest growing platform of its kind in the region. For more information, please visit http://www.kueski.com/en

About Mambu

Mambu enables any financial institution to deliver state-of-the-art banking through its software-as-a-service cloud solution. Agile, flexible and open, Mambu eliminates the complexities typically associated with core banking software, at a fraction of the cost. Mambu makes it simple and cost-effective to provide essential banking services such as loans and deposits. Established in 2011, the Berlin-based company works with more than 100 institutions in 28 countries worldwide, servicing a portfolio of more than $100M. Our clients range from small microfinance organizations to large retail banks and other financial innovators that are seeking to address the financial needs of the world's 3 billion individuals and 250 million micro, small and medium enterprises in need of loan, savings and insurance services. For more information, please visit http://www.mambu.com

SOURCE Mambu

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