Transforming to a full-service lender
Thailand
Leading Thai tech-driven auto leasing company Next Capital has partnered with Mambu to launch an innovative suite of lending products, enabling the company to transform into a full-service digital lender.
Established in 2004, Next Capital Public Company Limited, a Thailand-based leading non-bank financial institution, specialises in hire purchase loans for motorcycles and used trucks. The business aims to become the trusted financial services partner for the underbanked in the country.
In the highly competitive vehicle leasing market of Thailand, numerous local and international leasing companies have emerged, driving the need for digitalisation and improved customer experience.
As we look to expand our services and become a digitally enabled, full-service lender, it is imperative that our technology foundation is flexible and scalable so we can respond accordingly as our business evolves.
Recognising the transformative power of financial technology in expanding financial inclusivity, Next Capital positioned itself to lead the market by prioritising the development of scalable and flexible lending products. This strategic approach not only aimed to stay ahead of the competition but also sought to enable business expansion and improve accessibility to financial services for underserved segments.
Punnamas Vichitkulwongsa, CEO of Next Capital, commented, “Innovations and technology are the key part to enabling our core strategy to create meaningful products and services that best meet our customers’ needs and create sustainable, meaningful competitive advantages. As we look to expand our services and become a digitally enabled, full-service lender, it is imperative that our technology foundation is flexible and scalable so we can respond accordingly as our business evolves.”
Next Capital chose Mambu’s cloud banking and lending platform as the technology foundation for its new suite of innovative, tech-driven lending products, and went live in just four months, without the need to bring in any third-party system integrator.
We were impressed at the speed that Mambu could execute the implementation and we are excited at the possibilities that having Mambu at our core will mean in terms of delivering innovative and customer-centric lending solutions.
Leveraging Mambu’s API-first platform will enable Next Capital to connect with other technology vendors to offer new products and services as consumer demands evolve and market conditions shift.
Chaiwit Laohawaleesan, Head of Technology at Next Capital, reiterated, “We selected Mambu’s cloud-native platform to launch our innovative new lending products, starting from automobile title loans, as we needed a solution that could scale efficiently as our business grows. We were impressed at the speed that Mambu could execute the implementation and we are excited at the possibilities that having Mambu at our core will mean in terms of delivering innovative and customer-centric lending solutions.”
Mambu’s platform provides the loan management system for Next Capital’s new suite of lending products, while the loan origination application and the entire system design and integration efforts are handled by Next Capital’s in-house technology team.