Briefs: Unloan operating on Mambu, AMP streamlines lending, Change Financial contract wins

Commonwealth Bank is using banking software company Mambu as the foundation for its new direct to consumer, digital mortgage brand Unloan. CBA launched Unloan last month, with a low rate of 2.14 per cent, a loyalty discount and the promise of approvals in minutes. Yesterday the bank announced it had chosen Mambu’s cloud platform to support Unloan and it “looks forward to working closely with Mambu as we continue to digitally transform our suite of CBA brands”.
AMP Bank has streamlined its lending process with the introduction of digital verification of identity and broker-ordered valuation. AMP is working with fintech NextGen on both projects. The embedded VOI will eliminate the task of entering identification details. Broker-ordered valuations allow brokers to get a valuation before submitting an application.
Payments company Change Financial has secured contracts with four New Zealand mutuals to provide card processing and management services using its Vertexon system. Under the arrangement Change will run debit card programs for First Credit Union, Nelson Building Society, Westforce Credit Union and Police Credit Union. The company said the deal will generate revenue of around A$2.9 million over the initial five-year term. It said the four mutuals would be able to modernise their payments products, including offering digital cards.