GoBear Partners with Mambu and CredoLab as it Accelerates its Short-term Loans Business
June 29, 2020
GoBear, Asia’s leading financial services platform, will partner with Mambu, the market-leading cloud banking platform, and CredoLab, the largest provider of alternative credit scores based on smartphone metadata in Southeast Asia, as the company accelerates its lending business across the region.
Mambu’s innovative composable banking solution will form the core system in GoBear’s lending architecture to expand in the Philippines by 2020, with additional markets to follow.
GoBear’s Chief Lending Officer, Mike Singh, said: “Having access to responsible credit should be a financial right for all. Tapping into fintech solutions like Mambu and CredoLab’s brings us one step closer to making this a reality for the region’s 296 million unbanked or underbanked.”
GoBear first launched in 2015 as a metasearch engine and has since grown to be a financial services platform that comprises an online financial supermarket, digital insurance brokerage, and digital lending business all built on a foundation of alternative data. To date, GoBear has served over 55 million users searching for more than 2,000 personal finance products.
Myles Bertrand, Mambu’s Managing Director APAC, said: “In less than five years of operation, GoBear has built a stellar reputation as a leading financial services platform and we envisage great things for the company as it continues to build its lending business. Mambu’s cloud-native technology will allow GoBear to transform, add new products and grow while maintaining its reputation for outstanding customer service.”
Peter Barcak, CredoLab’s CEO, said: “CredoLab’s light mobile SDK, easy to integrate API, and accurate credit score have already been chosen by over 70 banks and lenders globally. Our ability to generate a credit score for customers who cannot prove their creditworthiness in the conventional financial system makes us uniquely positioned to support GoBear as they diversify their business and move into lending in a controlled way”.
Mambu’s partnership with GoBear was established after a recommendation from long-term Mambu partner CredoLab, which also works with GoBear. This collaborative approach is an illustration of how Mambu works with its ecosystem of partners to build effective end-to-end solutions for customers.
On 2 July, Mambu, together with CredoLab and GoBear will be hosting a webinar on “Decoding the customer journey with digital technology”. Find out more here.
Read the coverage on Business Times.