Press release

Consumer finance offering on Mambu

bob Finance launches consumer finance offering on Mambu

The Swiss digital lender chose Mambu as it establishes itself in the consumer finance market

Zurich, 13 December 2022 – Zurich-based digital financial services provider, bob Finance, 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.

bob Finance is a branch of Valora Schweiz AG, the leading provider of Foodvenience in Switzerland. They provide simple and secure digital financing solutions for both individual and business customers. The fintech originally leveraged Mambu to launch its ‘buy now, pay later’ offering for retailers called ‘bob Zero’ in 2020. As bob Finance further establishes itself in the lending market, it needed a platform hosted in Switzerland that meets internal and external partner standards.

Hilmar Scheel, CEO at bob Finance: “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.”

As bob Finance assessed the consumer finance market, it saw the need to deepen its technical integration with enterprise partners to provide fast and easy onboarding journeys and increase efficiency. This required a platform hosted in Switzerland to comply with data residency requirements, which kicked off the current migration project. With its offerings on Mambu’s platform, bob Finance is poised to continue building products and developing new opportunities in the region, while achieving its end goal of simplifying consumer finance for Swiss customers.

Zac Maufe, Managing Director, Financial Services Industry Solutions at Google Cloud: “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.”

Scott Wilson, Regional VP EMEA at Mambu: “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. We’re looking forward to supporting the digital lender as it leverages our cloud-native banking platform to build scalable lending experiences in the region.”

About Mambu

Mambu is the world’s only true SaaS cloud banking platform. Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu has more than 900 employees that support 230 customers in over 65 countries - including Western Union, N26, Raiffeisen Bank, ABN AMRO, Solaris Group, Orange Bank, Commonwealth Bank of Australia, BancoEstado and OakNorth. www.mambu.com

Mambu media contact:
Bhavni Meintjies
press@mambu.com

bob Finance

bob Finance, branch of Valora Schweiz AG, offers its customers premium digital financing solutions at reasonable terms. Our dedicated bob team, which consists of finance and technology experts, is constantly developing innovative and simple options that allow customers to pay conveniently and remain financially flexible.

bob Finance media contact:
Hilmar Scheel, CEO at bob Finance
media@bob.ch