Mambu Cloud Banking Powers UK Lending in Savvy Loans


London start-up, Savvy Loans, uses Mambu’s platform to reach underserved individuals and small businesses

LONDON, ENGLAND – 17 November, 2014: Mambu has today announced that its cloud banking technology is powering Savvy Loans’ new lending program for individuals and small businesses. Savvy Loans Ltd., a new entrant into the U.K. consumer credit market, chose Mambu’s cloud-based platform for its fast time-to-market, front-to-back technical integration and the flexibility and scalability it provides to support future business growth.

By choosing Mambu, Savvy Loans quickly launched a fully customizable online offering with low upfront capital expenditure and accelerated time-to-market from months to weeks. The Mambu platform was created to help financial institutions like Savvy Loans extend capital to individuals and small businesses. Mambu’s agile cloud platform provides a fast and flexible way for Savvy Loans to originate loans from its website to its core platform and capture data all in one spot. Its open API allows Savvy Loans to conduct credit assessments on payments and collections through integrations with Call Credit and Lend Protect systems. This allows the company to streamline data management and make a credit decision within 24 hours, which would not be possible at a comparable price point with traditional core banking platforms.

“Savvy Loans provides an alternative to high-interest, pay-day lending in a secure way,” said Alexander Chagoubatov, Managing Director at Savvy Loans Products Ltd. “Mambu enabled us to take our offering to market quickly with low capital expenditure and to provide a better service to our customers through quick turn-around on the loan decisioning process. In turn this allows us to support a higher volume of tailored loans at lower interest rates and with longer payment terms.”

“New FCA regulations and interest rate caps mean existing and traditional payday lenders will be challenged in their business models, but new providers like Savvy Loans have an opportunity to work within the new frameworks and fill in the market gaps. New entrants into the lending space have an opportunity to reach underserved customers, become digital disrupters and accelerate time to market through the use of innovative technology,” said Eugene Danilkis, co-founder and chief executive at Mambu. “Savvy Loans is the first online, secured lending offering going to market in the U.K., which was made possible by the flexibility, agility and ease of use of the Mambu platform. We’re excited to help them launch and grow their business.”

Savvy Loans entered the U.K. consumer credit market to provide affordable and responsible loans tailored to its customers’ individual circumstances. Using the Mambu platform, Savvy Loans will offer short-term loans from £400 to £1,000 over 3 to 12 months, and Guarantor loans from £1,000 to £7,500 over 12 to 60 months to individuals and self-employed small businesses. Its £1000 loan for 12 months has an APR of 161% versus more than 5000% from local competitors, an aggressive and competitive interest rate made possible by the way in which Savvy Loans has set up its entire operations to be lean, streamlined and automated, by leveraging cloud technology including Mambu. The goal is to increase consumer lending for purchases such as second charge and merchant loans and disburse them to thousands of individuals and business by drawing on the more than 60 years of industry expertise that Savvy Loans delivers through the power of the Mambu platform.

About Mambu

Mambu enables innovative banking providers to rapidly create, launch and service loan and deposit products through its agile, flexible and affordable cloud banking platform. An alternative to legacy core banking software, Mambu accelerates time to market for new consumer and SME banking products via digital channels, at a fraction of the cost. Established in 2011, the company works with more than 100 institutions in 30 countries worldwide, servicing a portfolio of more than a million accounts. Our clients range from microfinance organizations to financial innovators and digital banking disruptors seeking to extend banking services to underserved markets around the world. For more information, please visit or follow us on Twitter @mambu_com

About Savvy Loans

Savvy Loans Products Limited is a new lender focused on customer needs and repayment capabilities. Savvy is proud to have developed and launched an innovative front end system that was enabled by Mambu, and is ready to scale up its operations by launching new products. Savvy Loans is working with a number of sales, marketing and operational partners and is always looking to grow its network.

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Categories: Miscellaneous

CipherCloud Finalizes $50M In Additional Funding

Cloud data protection and visibility leader CipherCloud today announced the finalization of $50M in funding in a round led by Transamerica Ventures. Delta Partners joined the round with additional participation from existing investors Andreessen Horowitz and T-Venture. The funding will be used to support the company’s explosive growth in verticals that include banking, healthcare, pharmaceuticals and telecommunications as noted by CipherCloud CEO Praveen Kothari in the press release announcing the funding raise. In addition to cloud data protection as represented by “encryption, tokenization, activity monitoring, data loss prevention (DLP) and malware detection,” CipherCloud specializes in monitoring of cloud users as well as the discovery of cloud-based applications used within a specific infrastructure with a view toward identifying applications that may not have been approved by the relevant organization’s IT department. The $50M funding raise validates CipherCloud’s leadership position in the cloud security market and positions it strongly to expand into markets in Europe and the Asia-Pacific. In addition to protecting cloud infrastructures, CipherCloud offers dedicated cloud protection solutions for applications such as Salesforce, Box, Microsoft Office 365, and ServiceNow.

Categories: CipherCloud

Glassbeam Integrates With Apache Spark And Enhances Its Analytics And Machine Learning Functionality

Santa Clara-based machine data analytics vendor Glassbeam recently revealed details of a new version of Glassbeam SCALAR marked by deep integration with Apache Spark. Apache Spark is a parallel data processing framework that facilitates real-time analytics, machine learning and real-time analytics by storing the results of data operators in memory and performing low latency, iterative calculations on in memory computational results. Known for its ability to automate the parallelization of tasks and jobs, Spark boasts operational efficiencies over MapReduce by a factor of 100 with respect to the execution of calculations on large datasets. Glassbeam SCALAR’s integration with Apache Spark enhances its computational capabilities as well as the platform’s machine learning functionality and capacity to perform real-time analytics on streaming datasets by means of the Spark Streaming and MLLib components of the Spark stack. Built on Cassandra, Spark’s addition to the Glassbeam’s cloud analytics platform gives it the benefits of Cassandra’s distributed data management architecture in addition to Spark’s computational, analytic and machine learning functionality. As such, today’s announcement strengthens Glassbeam’s position in the nascent but exploding internet of things analytics space by augmenting its ability to ingest, process and analyze massive amounts of data as well as enhancing Glassbeam SCALAR’s advanced analytics, machine learning and predictive analytics capabilities.

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ClusterHQ’s Docker Container Management Technology Addresses Data Layer Of Docker Applications

ClusterHQ today announced the integration of its Flocker container management technology with Docker’s fig file format, thereby enabling customers to deploy and manage Docker containers on multiple servers, data centers and cloud providers. Importantly, ClusterHQ’s Flocker technology tackles a problem addressed by few Docker orchestration frameworks by enabling data layers installed within Docker containers to similarly migrate across containers instead of remaining attached to the machine on which the Docker container in question is installed. Whereas existing container management technologies solve the problem of managing the migration and deployment of containers that house applications within multiple environments, Flocker’s solution uniquely addresses the challenge of managing databases, key value stores and data layers within container environments.

Michael Coté, Research Director, Infrastructure Software at The 451 Group, remarked on the significance of ClusterHQ’s innovation with respect to the data layer and Docker containers as follows:

We’re seeing activity around Docker grow incredibly quickly, with application developers only beginning to find the edges of what’s possible – including how to architect their applications appropriately for operations to deploy and manage. Management of the data layer has always been difficult with containers, yet is a critical need for production operations, since every application has to deal with state. It’s great to see ClusterHQ working on this layer of the Docker container stack.

Here, Coté comments on the challenges developers have encountered with respect to management of the data layer in relation to Docker technology. Coté elaborates on how data layer management is critical because applications need to register states, one component of which concerns the data repositories that represent one dimension of the application’s history. ClusterHQ’s announcement of the integration of its Flocker container management technology with Docker’s fig file format comes in the wake of last week’s announcement by Amazon Web Services of it support for Docker technology by means of a container management framework specific to AWS. Unlike AWS’s container management framework and Google’s Kubernetes, however, Flocker takes up a vendor agnostic position with respect to cloud infrastructures by integrating directly with Docker technology, thereby enabling it to interoperate on any cloud platform or environment featuring Docker containers. As a result, Flocker facilitates the management of Docker containers across multiple data centers and cloud vendors and thereby delivers a uniquely vendor-agnostic solution to Docker orchestration and container management in conjunction with its focus on the data layer of Docker applications.

Categories: Miscellaneous | Tags: ,

Amazon Announces Support For Docker With EC2 Container Service

Last Thursday, November 13, Amazon Web Services announced the availability of EC2 Container Service (ECS) to facilitate the management of Docker technology qua containers on the Amazon Web Services platform. The announcement represents another notable endorsement of Docker technology by a major cloud vendor that promises to continue catapulting Docker’s container technology to the forefront of the cloud computing revolution. Docker, recall, is a platform that enables developers to create and transport distributed applications. Docker streamlines software development by ensuring that applications housed within Docker containers remain unchanged when transported from one environment to another, thereby reducing the probability that applications which run smoothly in test environments fail in production. Docker’s container technology also introduces greater efficiencies with respect to the creation of applications by means of well defined parameters regarding application dependencies that enable developers to more effectively diagnose bugs and performance-related issues as they arise.

ECS enables Amazon customers to create clusters featuring thousands of containers across multiple Availability Zones. Moreover, ECS empowers customers to terminate and start containers in addition to providing scheduling functionality that optimizes the collective performance of containers within a cluster. ECS also allows users to transport containers from the AWS platform to on-premise infrastructures and vice versa while additionally providing deep AWS integration that allows customers to take advantage of AWS’s “Elastic IP addresses, resource tags, and Virtual Private Cloud (VPC)” that effectively transform Docker containers into another layer of the AWS platform on par with EC2 and S3, according to a blog post by Amazon’s Jeff Barr. Amazon’s announcement of its EC2 Container Service for container management means that it accompanies Microsoft and Google in offering support for Docker deployment, management and orchestration. Google’s Kubernetes project enables Docker container management on the Google Cloud Platform, while Microsoft Azure recently announced support for Kubernetes on the Azure platform.

The bottom line here is that Docker’s ability to enable the deployment of applications within containers as opposed to virtual machines has captured the minds of developers and enterprise customers to such a degree that the most significant IaaS players in the industry are differentially announcing indigenous or borrowed support for Docker technology. The key question now concerns the extent to which Docker usage proliferates to the point where it becomes the de facto standard for the deployment of applications and whether its technology can support the convergence of cloud computing and Big Data in the form of data-intensive applications designed to perform analytics on real-time, streaming data. Docker users will also be interested in container management frameworks that inter-operate across cloud frameworks such as Google Cloud Platform and Amazon Web Services in contrast to management frameworks designed for one cloud infrastructure as opposed to another.

Categories: Amazon Web Services, Docker | Tags: , ,

Peak Raises $9M For IaaS Cloud Offering Delivered By Means Of Channel Partners And Resellers

On November 12, Denver-based IaaS provider Peak announced the finalization of $9M in funding from existing investors Meritage Funds and Streetwater Capital and new investor Ares Capital. The funding will be used to support exploding demand for Peak’s IaaS offering as delivered by means of channel partners that include service providers and other distributors that white-label and resell Peak’s IaaS platform. Peak’s channel-based business model for IaaS delivery represents a key differentiator in a landscape dominated by vendors that sell IaaS products and services directly to customers. The recent capital raise enables Peak to continue to service its ecosystem of channel partners and cement its relationship with its recently announced partner Telx, the data center, colocation and interconnection vendor. The $9M capital raise brings the total capital raised by Peak to $16M in equity and debt financing. Peak’s continued growth and recent funding raise attests to the vibrancy of the U.S.-based market for white-labeled IaaS products and services that do not originate from brand name IaaS vendors such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM or the cottage industry of OpenStack vendors.

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New Relic Joins Hortonworks In Week Of $100M Tech IPOs

This week, application performance management vendor New Relic announced it had filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) as a step toward executing an initial public offering of its common stock aimed at raising roughly $100M. The IPO will be underwritten by Morgan Stanley, JP Morgan, Allen & Company and UBS in collaboration with JMP Securities and Raymond James & Associates. While the precise number of shares and their initial share price remains to be determined, New Relic revealed plans to trade shares under the stock ticker symbol NEWR. For the fiscal year 2014, New Relic has raised $215M in capital to date, with its most recent capital raise occurring in April 2014 in a round that raised $100M led by BlackRock, Inc. and Passport Capital, LLC. New Relic registered a loss of $40.2M on $63.2M in revenue. From September 30, 2013 to September 30, 2014, New Relic’s employee headcount increased from 315 to 534 while its total number of paying customers correspondingly increased from 7,552 to 10,590 over the same time period.

New Relic’s IPO announcement marks the second company this week in which Benchmark Capital’s Peter Fenton sits on the board of directors to seek $100M in IPO funding. Earlier this week, Hadoop vendor Hortonworks announced that it had similarly filed an S-1 for an IPO this Monday. New Relic’s S-1 filing lists HP, IBM, Oracle, BMC Software, SAP, AppDynamics, Splunk, Google and Webtrends amongst its competitors. New Relic’s announcement of its decision to pursue an IPO constitutes a watershed moment in enterprise IT insofar as its SaaS-based application performance management (APM) software claims deep integration with cloud platforms such as Amazon Web Services and Google Compute Engine. New Relic’s success in building analytics and performance management platforms for cloud-based infrastructures renders it an increasingly important fixture in enterprise IT, particularly as cloud adoption continues to accelerate throughout the enterprise.

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