May 1, 2020 | Written by: IBM SEE Think Blog
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The company plans to drive digital transformation with Red Hat OpenShift on IBM public cloud
IBM announced a new partnership with Circeo, a Hungarian fintech to adopt IBM public cloud accelerate its global expansion and drive digital innovation. By utilizing Red Hat OpenShift on IBM public cloud, Circeo has successfully launched new and innovative digital loan offerings to reach more customers faster in a highly flexible and secured environment.
The world of financial services is rapidly changing and face intense challenges, including changing customers behaviors, increasing security regulations and requirements, as well as the demand for digitalization of financial consumption. Circeo was established in 2014 and the company has selected IBM public cloud as its preferred platform to run their business and has partnered with IBM on different strategic projects to enhance the customer experience through its public cloud strategy. Circeo is able to provide the innovation and agility that public cloud can offer, combined with the security necessary to help remain compliant. This helps enable Circeo and its clients to meet rising regulatory requirements including their obligations under the European Banking Authority (EBA) easier than ever before.
Circeo hosts its software-as-a-service (SaaS) Lending Platform, “TheLoanFactory” on the IBM public cloud to offer tailor-made financial products and manage them throughout their life cycle. It handles all type of loans including leasing, mortgages, SME loans and tailored made financing products. “TheLoanFactory“ has successfully processed more that 20 000 loan applications since January 2020. By hosting its platform on the IBM public cloud, Circeo is able to enter into new business models and leverage higher value technology to innovate faster.
“We at Circeo are providing 21st century cloud-based lending solution for banks and financial services companies. IBM public cloud ensures the proper infrastructure to fulfil all requirements of our clients in terms of security and reliability. Our solution, “TheLoanFactory”, is built on unique services of IBM public cloud from bare metal servers to the Red Hat OpenShift Container Platform”- said Matthieu M. Job, CEO of Circeo. “The efficiencies that we received from IBM public cloud has boosted our processing capabilities and makes it possible for us to roll-out our solution for clients much quicker. It has also allowed us to expand existing client portfolios and onboard new clients into production much faster than ever before’ – Job added.
“By continuing our successful partnership with Circeo, we’re about to help drive innovation to meet their clients demands, while addressing the complex security and regulatory requirements of today’s financial industry“, said Peter Rehus, Country Leader, IBM Hungary. “IBM public cloud is designed to provide clients with the highest available level of security, leading data protection and enterprise-grade infrastructure to run Red Hat OpenShift. It’s clear that open architectures, based on Kubernetes and containers, will help Circeo drive the next wave of cloud-based innovation.’ added Rehus.
Based in Hungary with offices in Paris and London, Circeo is a Lending Technology Provider, delivering TheLoanFactory, the next generation of flexible digital SaaS Lending platform. TheLoanFactory is a multi-product, multi-channel, multi-country and multi-language flexible platform for the Origination, Account Management & Servicing (back-office) and Debt Collection of all types of retail and SME loans and lease products with a modular structure and at the same time flexibility allowing the use of selected modules, as well as an unprecedented degree of flexibility through its exclusive codeless configuration engine and modern architecture based on microservices, containers and API gateways. More information: https://www.circeo.today/en/
About IBM Cloud
With over $20B in annual cloud revenue, IBM has built a leading enterprise hybrid cloud business. This includes a comprehensive range of as-a-service offerings, software, hardware and professional services that enable IBM to advise, move, build and manage cloud solutions across public, private and on-premises environments. Through its global network of more than 60 cloud data centers across 19 countries and 18 availability zones across 6 regions, IBM public cloud helps enterprises in all industries to meet security, resiliency, performance, and global deployment requirements. Built on an open source, multitenant environment, clients have secured access to an enterprise-grade IaaS and a leading PaaS that provides them with the latest developer capabilities and ready-to-go innovation engines. This includes more than 190 cloud-native APIs, such as AI, blockchain, IoT, serverless and quantum computing, and consistent function all the way to the edge.
For more information, visit https://www.ibm.com/cloud/public