CommBank selects Mambu as tech backbone for digital mortgage brand Unloan

Unloan is set to be a revolutionary force in the Australian mortgage industry, with the new offering able to provide loan refinancing applications in as little as 10 minutes and a discount that increases every year for up to 30 years.

Mambu is a true SaaS cloud banking platform and has a uniquely composable approach that enables the assembly of independent components, systems, and connectors to meet business needs and end-user demands.

This approach aligns perfectly with CBA’s goal to understand and anticipate its customers’ evolving needs, utilising next-gen technology like data analytics, AI and cloud to deliver personalised, agile and flexible finance solutions to consumers.

Brendan Harrap, Chief Architect at CBA said: “We’ve selected Mambu to underpin our new home loan brand, Unloan, and look forward to working closely with Mambu as we continue to digitally transform our suite of CBA Group brands.

“Partnering with Mambu is an investment in future-proofing CBA. Mambu’s SaaS cloud banking platform will enable us to bring in best-in-class solutions from other high-performing fintechs and vendors, build financial solutions that meet the demands and expectations of our customers, and retain our position as Australia’s leading bank.”

Werner Knoblich, Chief Revenue Officer, at Mambu said: “There has been a profound shift in the way people think about their finances over the last two years, with significant acceleration in the adoption of digital technologies and greater expectations from consumers.

“People aren’t content to just get what they’re given anymore; they want personalised customer service and products that are tailored to their circumstances. That’s what Mambu can enable, at a fraction of the cost and much more quickly than traditional banking technology. We are so excited to be working with CBA as it takes this next leap into the digital future.”
Unloan was launched to the Australian market in May 2022.