Scroll Finance, a next-generation fintech providing smart financing solutions for homeowners, has launched its home equity loan and home equity line of credit (HELOC) products, powered by Mambu’s cloud banking platform.
Scroll allows UK homeowners to unlock their home’s equity for use cases such as home improvement, ‘green’ upgrades, buying a holiday home, consolidating debts and the deposit for real estate purchases.
Founded by engineers in 2021, Scroll aims to bring the flexibility, speed and convenience of an unsecured loan application experience to homeowner finance. Its unique solution aims to process applications from initial inquiry to completion in just days, compared to the six or seven weeks of traditional home financing options.
Customers can borrow between £25,000 and £1 million at competitive rates, up to an 80% loan-to-value ratio, and Scroll has already secured its first loan.
Ashish Kashyap, CEO and Co-Founder of Scroll Finance said, “We want to be in charge of creating a great lending experience for our clients and a key part of that is having full control over the entire cycle. life of a loan, from initial inquiry to paying for maintenance and collections. Added to this desire for control is a requirement for rapid and flexible development to adapt to our unique vision of global real estate financing solutions. This is exactly what Mambu offers.
Built on Mambu’s composable technology foundation, Scroll Finance has the flexibility and control to choose from the best performing components. This enables fintech to deliver distinctive customer experiences without vendor lock-in and wholesale re-platforming. Mambu’s cloud-native architecture also ensures an intuitive and responsive journey for Scroll customers and brokers.
Richard Morgans, Managing Director of Mambu UK & Ireland, said: “Working with Scroll Finance is a testament to the flexibility and capabilities of our cloud banking platform. From scratch, and in just 10 months, the Scroll team designed, built and launched not only a proprietary origination platform, but also a suite of new to UK product features on top of their product HELOC. The result is an innovative offering that will allow homeowners quick and easy access to the equity they have accumulated in their home. We look forward to continuing our partnership with Scroll to evolve and expand their products and services.
With the growing demand for sustainable finance, Scroll plans to offer ‘green’ solutions that help make UK homes more energy efficient. This offer is accompanied by a product roadmap rich in innovative and varied real estate financing options. Mambu’s API platform will facilitate this continuous improvement by rapidly configuring and deploying new products, giving fintech a unique competitive advantage in a short time.