SME Finance Forum member Mambu has signed a deal with Kreditech, the leading technology group for digital consumer lending using machine-learning based underwriting, to support the online lender’s entry into the Indian market. Kreditech currently operates in Europe and Latin America and will expand into India in early 2018, together with its partner PayU, a global online payments provider and Mambu client in Latin America. Mambu’s SaaS banking engine will empower Kreditech to launch a short-term lending product specifically tailored to local consumer and regulatory needs.

The loan product is expected to go live in the first quarter of 2018, all data will be hosted by AWS India.