Folkefinans in tech revamp with Mambu’s SaaS-based core banking system– FinTech Futures

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Mambu gets new client in the Nordics

Folkefinans, a Nordic financing and credit business, is rolling out a brand-new back workplace processing service, supplied by Mambu, to” power its long-lasting development method”, the supplier says.The solution is provided on a hosted, Software-as-a-Service (SaaS) basis, and was chosen “for its versatility and scalability”, according to Mambu.Founded in 2006

, Folkefinans operates in Norway, Sweden, Finland and Estonia, and has over 350,000 customers. It is moving its items throughout all locations onto Mambu’s platform (to be completed within a year) and has also launched a new product using the brand-new tech– a revolving credit loan.The revolving

credit loan will be readily available in Sweden and Norway from April 2018.

“We was among the very first digital customer loan providers in the region and as we’ve grown, the need to broaden our portfolio of products has ended up being rapidly evident,” explains Martin Holmin, CTO of Folkefinans.

“Nevertheless, we found that our custom-built financing platform could not keep pace with our aspirations so we sought an option that could assist us separate and go to market quickly.”

He continues: “Mambu’s functionality matched our requirements completely: it integrates seamlessly with our existing community and is extremely configurable that makes it able to manage regulatory modifications, a crucial requirement for us.”

Mambu describes its flagship platform as “the lean option to troublesome core banking systems, a cloud-native software application, supporting open API-enabled environments”.

The business was set up in 2011. It says that today it powers over 6,000 loan and deposit items that serve over 4 million end customers throughout 46 countries. Its customers include Ualá and Wenance in Latin America, N26 in Europe, and Fuse in the Philippines.