bob Finance Migrates Its Lending Portfolio to Mambuby Fintechnews Switzerland December 19, 2022
Zurich-based digital financial services provider bob Finance announced that it has successfully migrated its full lending portfolio to Mambu’s cloud-native banking platform.
This migration included a move to a locally-based Google Cloud as bob Finance is looking to establish itself in the Swiss lending market.
With its offerings on Mambu’s platform, bob Finance said that it will continue building products and developing new opportunities in the region.
bob Finance, a subsidiary of Valora Schweiz which is a Swiss retail and food service holding company, provides digital financing solutions for both individual and business customers.
The firm originally leveraged Mambu to launch its ‘buy now, pay later’ offering for retailers called ‘bob Zero’ in 2020.
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’ve reduced maintenance effort and information security risks through an up-to-date platform and technology stack compared to one that is individually hosted.”
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 down time, all in a matter of six months.”
Featured image credit: Edited from Freepik