Globe Telecom’s Fuse to Provide Loans Powered by Mambu

Mambu, the SaaS banking engine, today announced it will be powering the consumer and business lending products of Fuse, the lending arm of Filipino financial technology firm Mynt, by September 2017.

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Launched in 2015, Mynt is a subsidiary of leading Philippine telecom company Globe Telecom which has a customer base of over 60 million.  Mynt is increasing access to  financial services through mobile money, micro-loans and technology by leveraging the mobile and store networks of its partners and parent company in a country with 113% mobile penetration but only 31% banking penetration.

Mynt launched its lending business, Fuse, in 2016 to address the credit vacuum in the Philippines.  Micro, small and medium enterprises (MSMEs), which account for 99.6% percent of total registered companies in the country, as well as individuals face significant difficulty in accessing credit from incumbents due to stringent credit decisioning, limited authentication documentation and lack of collateral.

John Rubio, President and CEO of Mynt said:  "Most Filipinos do not have credit history on which future financial transactions may be based.  This, in turn, leads to poor access to legitimate credit facilities and proliferation of informal lenders. Through Fuse, we are changing this scenario in order to provide financial services in a non-traditional manner that will benefit the majority of our population who are unbanked."

"Mambu understood our vision and is enabling us to rapidly create, launch, and service tailored products that address the local market needs," said Anthony Thomas, President and CEO of Fuse.  "In Mambu we have found the right partner to accelerate and scale our lending business, as well as power innovative and secure consumer and business loan products."

The solution's flexibility will allow Fuse to overcome some of the challenges specific to the Philippines by autonomously configuring them for the market.

"Mambu's SaaS model provides Fuse with a best-in-class solution which benefits from continued enhancements and requires little resource to maintain," said Thomas.  "We will be able to scale, integrate with the latest technologies and be ready to manage the significant transaction volumes we anticipate."

"Leveraging the agility of the Mambu SaaS banking engine we will enable Fuse to provide innovative and much needed loan products to Filipino businesses and consumers," said Chiou Hao Chan, Mambu Managing Director, APAC.  "Mynt is in an ideal position to disrupt the market and meet consumer demand for convenient and safe digital lending.  We anticipate an increasing number of telcos and third-party providers in APAC will move into the financial services market and look forward to supporting this shift."

About Fuse Lending, Inc. (Fuse)  

Fuse is a tech-based lending company in the Philippines that provides fintech-enabled loans including micro, personal, and business loans, without the usual restrictions applied by banks and other lending institutions to its customers. It is operated by Mynt, a fully-owned subsidiary of Globe Telecom.

For more information, visit http://www.fuselending.com. Follow us on Facebook at http://www.facebook.com/fuselending.

About Globe Fintech Innovations, Inc. (Mynt) 

Mynt is a fully-owned subsidiary of Globe Capital Venture Holdings, Inc. that provides innovative and first-in-world fintech solutions to consumers, merchants, and organizations. Its purpose is to enable financial access for consumers and merchants by disrupting traditional channels through digital financial technology services. It operates two fintech companies: GCash, a micropayment service that transforms the mobile phone into a virtual wallet for secure, fast, and convenient money transfer, and Fuse, a tech-based lending company that enables Filipinos to get personal and business loans through use of mobile technology, alternative data, and innovative credit scoring methods. For more information, visit http://www.mynt.xyz .

About Mambu 

Mambu is the SaaS banking engine powering disruptive loan and deposit products.  We are the lean alternative to cumbersome core banking systems.  Helping our clients to successfully start up new business ventures, transform existing operations, launch new products and expand into new markets.  Mambu provides financial institutions of all sizes with the agility to rapidly design, launch, service and scale their banking and lending portfolio.

Launched in 2011, our technology powers over 5000 loan and deposit products which serve over 3 million end customers.  With more than 180 live operations in over 40 countries, ranging from FinTech revolutionaries to traditional banks, Mambu is helping financial institutions evolve and thrive in the digital age.

For more information, please visit our website or follow us on  Twitter and LinkedIn.