Mento, a Chilean digital lender providing credit, payments and other financial services, has gone live on Mambu’s SaaS cloud banking platform, extending loans via cloud technology to overlooked segments of the population.
The lenders new approach to collecting and analysing data when extending credit, focusing more on individual cases, history and other personal information to complement or even stand in place of historical salary figures.
Many contract workers, self-employed individuals and small business owners in Chile don’t have the necessary documentation to request lending, and are therefore turned down by traditional banks.
Mento can help arrange access to loans and other services to demographics often overlooked by traditional financial institutions, due to outdated procedures conducted on restrictive legacy tech systems.
