Dineo Crédito teams up with Mambu to boost lending in Spain

Dineo Crédito, a Spanish microlender under the Cash Converters group, has announced a strategic partnership with Mambu, a leading cloud banking platform. This collaboration marks a significant shift from Dineo Crédito’s in-house core system to Mambu’s advanced core banking technology.

The primary objective of this migration is to launch innovative lending products tailored to the evolving needs of their growing customer base in Spain.

Dineo Crédito has a strong commitment to promoting financial inclusion, having already provided financial support to 1.2 million borrowers across Spain and Portugal. As a member of the Spanish Fintech Chamber and the Asociación Española de Micropréstamos, the company is dedicated to ethical lending practices.

The partnership with Mambu is expected to bolster these efforts by leveraging the platform’s flexibility and collaborative capabilities. This will enable Dineo Crédito to stay competitive in a dynamic market and adapt to the ever-changing regulatory landscape.

“We were in search of a player that could help us co-create our product roadmap and support us through our digital transformation journey more efficiently and effectively.” said María Sánchez, Head of Dineo Crédito. “Mambu’s proven track record with lenders, breadth of possibilities the platform offers, and close collaboration throughout the process made it the perfect fit for our needs.”

Expanding the lending portfolio

With the integration of Mambu’s technology, Dineo Crédito aims to expand its lending portfolio to include more traditional lending products with higher loan amounts and longer terms. This move is designed to attract a broader range of borrowers and offer diversified financial solutions. The agility and simplicity of Dineo Crédito’s products have already garnered positive feedback from customers, setting the company apart from its competitors.

Victor Indiano, Area Manager for Southern Europe at Mambu, expressed his enthusiasm for the partnership: “Our partnership with Dineo Crédito has gone from strength to strength. Its ambition to promote financial inclusion and commitment to ethical and transparent banking perfectly aligns with our own ambitions and values here at Mambu. We are proud to be supporting Dineo Crédito and its customers in this crucial time.”

Dineo Crédito joins a growing number of banks, financial service providers, and EMI-licensed institutions in Southern Europe that have adopted Mambu’s platform, including Plazo, Orange Bank, and Universo Sonae. By leveraging Mambu’s technology, Dineo Crédito can accelerate the development of financial solutions and offer customers best-in-class products and experiences, all while ensuring compliance with local regulations.

This partnership not only enhances Dineo Crédito’s strategic edge but also reinforces its commitment to ethical banking and financial inclusion, setting a new standard in the Spanish lending market.

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