December 16, 2020 Helsinki, Finland. – Blue Finance has finalized its technological transformation from old platform to new one and as the final piece, the home market in Finland has now been transferred to the new platform called Axon. Online lending service is now available at https://www.bluefinance.fi/.
Previously in 2020 Blue Finance launched successful operations in Spain and Denmark. Online lending service allows users to easily and quickly apply for an online loan and instantly receive a response from Blue Finance. A successful application is automatically processed, and the money is credited to the client’s account within a few minutes, sometimes seconds. The platform works fully automatically 24 hours a day, 7 days a week.
Finland is the third country to use Axon, the lean banking framework built on top of Mambu Cloud Banking Platform and developed by Blue Finance. The company launched the online-lending service together with a technology partner, Middleware Inc. (the USA). Mambu’s composable banking platform is used as a base of the technical architecture. The business logic layer runs on Corezoid Hyperautomation Engine, which powers Mambu Process Orchestrator.
“We are growing fast across Europe and have recognized the need to move to a more robust, flexible and scalable architecture, – says Hannu Kaila, Group CIO and Vice President of Business Development, Blue Finance. – The decision to move away from our old legacy IT systems was difficult, but we understood that in order to develop Blue Finance as a modern digital company, we had to become more effective in many ways, including technologically. The new infrastructure allows us to build new products and launch work in new markets within a few months.”
“It is amazing how little effort is required to configure and maintain Banking Products within the Mambu Cloud Banking Platform and build API-driven processes in a low-code / no-code Process Orchestrator, powered by Corezoid. It took us only 3 months to issue the first online loan in Spain in spring 2020. Then, two months later we announced the launch of the new platform in Denmark. And now we are announcing the launch of the brand new platform in Finland. Blue Finance plans to continue cooperation with Middleware Inc. as a technology partner across the EU markets in 2021”, – said Hannu Kaila.
Ben Goldin, CTO/CPO of Mambu said: “We have watched the exponential growth of the online lending market over recent years and are seeing more new lenders enter the space. What sets new players like Blue Finance apart is their customer centric approach. They wanted to increase market speed so they can quickly respond to changing customer needs and market changes, which our platform helps to provide. The powerful combination of Mambu's composable banking platform and the Mambu Process Orchestrator helps position Blue Finance to continue to provide the highest level of customer service, quickly and flexibly."
Blue Finance Group is a leading FinTech operator in Scandinavia founded in 2011 and specialized in personal loans and SME lending. Already serving over 200 000 customers in Denmark, Finland and Spain, Blue Finance Group is now launching operations in the EU as part of its ambitious international expansion program.