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4G Capital To Expand Its African Footprint With Mambu Cloud Services

The neobank 4G Capital is to launch on the cloud banking platform of Mambu

The neobank primarily supports the growth of micro and small businesses in Africa, by facilitating unsecured business loans along with enterprise training and access to digital solutions.

Having delivered around 1.75 million loans since its inception nine years ago, 4G Capital made the decision to transition to a cloud-native banking platform to help facilitate its ambitions to scale.

This week, it announced its plans to go live on Mambu’s cloud banking platform.

Mambu’s platform will enable the neobank to scale and expedite its digital journey to meet customer business needs.

Mambu’s flexible and composable technology approach is set to enable 4G Capital to expand its customer base across Africa and grow its financial services portfolio.

4G Capital also prioritised brand compatibility in its search for a suitable platform, including shared values and socially conscious goals. Fortunately, both parties share in the mission of bridging the finance gap.

Since 2013, 4G Capital has set out to enable traditionally excluded micro and small enterprises to access funding with products designed to increase clients’ take-home earnings, grow their businesses and improve access to vital services.

This is reportedly been achieved through a combination of relationship management with proprietary AI technology to minimise default risk.

Likewise, Mambu aims to bring access to modern banking experiences to as many people as possible and started servicing micro-lenders back in 2011; primarily in emerging markets in Africa.

Today, Mambu has 77 million daily users and over 230 banks and financial institutions as customers.

Wayne Hennessy-Barrett, founder and chief executive officer at 4G Capital
Wayne Hennessy-Barrett

Wayne Hennessy-Barrett, founder and chief executive officer at 4G Capital, confirmed how the neobank’s investment in the cloud platform will “enable us to accelerate our mission of growing businesses with capital and knowledge. Mambu provides a best-in-class platform that fits into our existing digital architecture and business processes.”

Speaking on the natural alignment of the brands’ ambitions, Hennessy-Barrett added that the neobank was “impressed” with the platform’s working culture, which “aligned with our own focus on pioneering innovation and customer success.”

Peter Richmond, VP customer success at Mambu
Peter Richmond

“4G Capital and Mambu are aligned both culturally and historically,” added Peter Richmond, VP customer success at Mambu.

“Our partnership means we can close the finance gap to create better banking experiences for groups that have been historically underserved. The micro and small enterprise finance gap across the world is enormous, despite this sector being a key economic driver globally.”

Richmond confirmed the platform’s committed to helping 4G Capital support entrepreneurs everywhere in achieving their potential.

The roadmap for 4G Capital, supported by Mambu, sees a range of new products and services to serve micro and small enterprises, scaling across existing markets of Kenya and Uganda, then into new emerging markets both organically and with channel partners.

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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