Mambu, the newly-minted fintech unicorn, today announced it has successfully taken duologi, one of the UK’s fastest-growing point-of-sale payment solution providers, live on its cloud banking and lending platform. This transition highlights duologi’s future-focused business plans - to expand its loan and revolving credit facilities.
Backed by global firm, Oaktree Capital, the UK-based retail finance provider is building new consumer-centric lending products on Mambu’s SaaS platform due to the flexibility and agility offered. Having migrated all customer accounts and moved away from their legacy system, duologi now has more control and can centralise operations in-house in order to scale quickly.
Today, people are using point-of-sale payment services in ways they hadn’t previously considered necessary - or even possible. By leveraging Mambu, we can better support shoppers and give them the ability to seamlessly fit financing into their lives.
Duologi had to rethink their approach to innovation to meet market needs, as buy now, pay later is currently the fastest-growing payment option in the UK. By partnering with Mambu, duologi can now provide more people with increased purchase power to buy what they need, when they need it. Point-of-sale financing, for example, has been at the forefront of duologi’s business and thanks to cloud technology they can provide instalment loan options available immediately, online or on mobile, across all retail sectors.
The move to Mambu is set to make duologi resilient and inherently adaptable. Due to their legacy system, even basic changes were slow to come by. We were laser-focused on migrating duologi’s accounts to the cloud and helping them build a more fitting ecosystem for today’s customers.
Being able to orchestrate and synchronize duologi’s operations became essential in order to offer a more individual, personal and flexible approach to building the right payment solution for its partners in the space of consumer financing.
Duologi will also further enable its recently-started diverse products offering in estate agency, property services, home improvement loans and litigation finance.
“The work we’re doing with duologi represents what’s possible when we apply the transformative power of the cloud and it’s a privilege to help them solve their challenges and accelerate their financing solutions to individual customers and to partners in various business domains,” continued Boonstra.
After a successful 2020 with 100% YoY growth and a recent €110 million round of funding, Mambu continues to provide customers with a world-class platform on which to build modern, agile customer-centric financial businesses.