Mambu powers bob Finance’s future growth

Press releaseby Mambu Communications
2 min read

Berlin - September 12, 2019, Mambu, the leading SaaS banking engine, today announced that it is powering bob Finance, helping the Swiss online lender achieve its long-term strategic objectives. bob Finance, a subsidiary of Valora Schweiz AG, chose Mambu’s cloud-native engine for its high scalability and quick time to market, aspects pivotal to the lender’s growth plans.

Since launching in 2015 bob Finance has quickly established itself as one of the largest Swiss online lenders. The company’s user-centric products, such as bob credit and bob pay, are geared towards meeting its customers’ dynamic needs. Focused on the implementation of processes that lead to long-term scalability, bob Finance selected Mambu to enhance business agility and allow for faster innovation cycles.

Commenting on the partnership, Hilmar Scheel, CEO of bob Finance, said: “bob Finance aims to offer its customers best-in-class financial services on fair terms. To do this, we must be able to respond to accelerating market opportunities in a secure and flexible way. Mambu’s cloud-native engine stood out because of its interoperability with current systems, as well as ease of scaling. The engine's flexibility and efficiency allows us to test new functionalities, introduce change and tap into greater cloud capacity faster.“

Alongside its existing offering, bob Finance plans to further grow its consumer finance and payment products. “Strengthening our internal technology and development competencies has been a high priority and we found Mambu’s composable architecture to be the right fit to meet these objectives. Our collaboration will have a profound impact on quality and implementation speed. Ultimately, the partnership is geared towards setting up a resilient, scalable system that will adapt to changes swiftly and effectively,” Scheel added.

According to Eelco-Jan Boonstra, Managing Director of Mambu EMEA, the online lending space is a fast growing market. “To have an impact on their market share, online lenders must find new ways to react to customers needs and implement without delay. This is especially true for Switzerland which has been at the forefront of the digital revolution. Long-term scalability and overall process and system improvements allow financial institutions to remain relevant and future-ready in a crowded market.”

In addition to future-proofing, a composable architecture reduces costs and opens up opportunities for innovation. Such agility creates a more rewarding and customer-centric lending experience. “Dynamic online lenders, such as bob Finance, recognise the value of cloud-native API-driven architecture to expand its offering and continue scaling,” Boonstra added.

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