From incorporation to first loan granted, Azlo was launched under 90 days
Legacy infrastructure wouldn't handle adding new territories with a totally new ruleset. Prior Denmark launch proved the case, which would push for searching a new tech stack solution.
After researching major players, we came to learn about modular composable banking solutions such as Mambu and Corezoid, which combined resort in an unbeatable combo. Against all odds, Azlo (Nexu) was launched in 84 days, marking our second launch in that time frame.
This is how we did it
At iBerotech, we pride ourselves on our ability to innovate and deliver. One of our standout achievements is the launch of online lending end-to-end operations in under 90 days, not once but twice. Among these, the launch of AZLO (Blue Finance Oy) stands as a testament to our commitment to excellence and innovation.
The challenge: Launching fully functional operations within a tight timeframe was a daunting task. We were faced with the need to integrate with multiple vendors and create a multitude of products with infinite iterations, all while ensuring seamless functionality.
The team: Our success wouldn't have been possible without an amazing team, assembled just a few weeks earlier. We were also fortunate to have two technicians join our team, both experts in a game-changing technology stack. Their expertise was instrumental in achieving our ambitious goals to build something new, different.
The solution: Utilising a composable banking technology stack, we were able to create a flexible and efficient system that allowed us to grant our first loan online in only 84 days. This technology stack enabled us to integrate seamlessly with over 30 vendors and build processes through a visual studio type of UI. The learning curve was mild, and the possibilities endless. Working with this technology was like playing with LEGO bricks, allowing us to innovate and adapt quickly.
The outcome: Our approach led to the successful launch of fully functional operations by March 2020. The fact that products could be created and tested within only a few days made this technology stack a must-have key success component. Our success with this project has been a validation of our innovative approach, teamwork, and commitment to delivering the best for our clients, even under a challenging schedule.
The legacy: This project has not only been a success story for us but also a demonstration of what can be achieved with the right team and technology. It has set a benchmark for efficiency and innovation in the industry.
Learn more: If you wish to have a better insight into our experience with this game-changing technology stack or explore how we can assist you in your journey, please don't hesitate to contact us directly.
Key project's milestones
A proactive benchmarking of existing banking software was initiated. Some key selection drivers were innovativeness, flexibility in creating products, and scalability with ease of customisation."
The recruiting process was initiated with the main focus on hiring experts who could help us work with these new technologies. We finally secured one expert for each of the components. However, we had to adapt to building a team working from remote locations; everyone was working from home in the midst of the Covid pandemic.
The Azlo website (originally branded as NEXU) was successfully launched to production with a functional loan product, and the first loan was granted seamlessly. Since then, refinements and improvements have been ongoing, and our commitment to enhancing the platform continues to this date