bob Finance launches consumer finance offering on Mambu
By Gloria Methri
Mambu, the SaaS cloud banking platform has been selected by bob Finance to help establish itself in the Swiss consumer finance market.
The Zurich-based digital lender is leveraging Mambu’s cloud-native banking platform to migrate its full lending portfolio onto Google Cloud. This will help provide simple and secure digital financing solutions for both individual and business customers.
Using Mambu’s cloud-native core, bob Finance will provide easy onboarding journeys and increase efficiency to build products and develop new opportunities in the region.
The FinTech originally leveraged Mambu to launch its ‘buy now, pay later’ offering for retailers called ‘bob Zero’ in 2020. As the company establishes itself in the lending market, it needed a platform hosted in Switzerland that meets the partner standards.
Hilmar Scheel, CEO at bob Finance said, “We teamed up with Mambu two years ago because we were looking for a flexible, cloud-native platform with core product capabilities that would support our mission to become a reliable and versatile partner for financial services. Since then, we have reduced maintenance effort and information security risks through an up-to-date platform and technology stack compared to one that is individually hosted.”
With its offerings on Mambu’s platform, bob Finance is poised to continue building products and developing new opportunities in the region.
Scott Wilson, Regional VP EMEA at Mambu said, “bob Finance is developing innovative, customer-first lending experiences for the Swiss market. Building on the success of our original partnership, they saw the opportunity to both migrate its offerings onto Mambu and a locally based cloud. The versatility and power of the Mambu platform combined with our multi-cloud approach meant bob Finance could change cloud providers easily and with zero downtime, all in a matter of six months.”
Zac Maufe, Managing Director, Financial Services Industry Solutions at Google Cloud added, “Today’s financial organisations require solutions that help drive innovation with customer security and business scalability. By partnering with Mambu as a part of its business digital transformation goals, financial services institutions like bob Finance can benefit from in-country, technology-enabled approaches to banking at cloud scale.”
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