Consumer Finance

The world’s first bank running in Azure Cloud!

The Challenge

Lea Bank’s (formerly known as Monobank and later BraBank) ideology was a mobile bank only to avoid costs for maintaining offices, a high number of employees and traditional banking infrastructure.

The Solution

Stacc delivers a complete core solution supporting deposits and loans. Today, Lea Bank provides financial services in Norway, Sweden, Finland and Spain.

The solution is built with Stacc Core Ledger based on Microsoft Dynamics 365 Business Central, fully compatible with other Microsoft products as Windows, Office and Power BI.

The solution consists of:

Ledger
Depot
Automated lifecycle handling of products and agreements from disbursement to closing
Handles
- Payment plans
- Due register
- Roles
- Customer data
Automated periodic events
Default management
Automated debt collection
Running administration

Stacc Core Ledger also features an integrated ERP system and offers built-in solutions to handle compliance requirements.

The solution is integrated with the bank's own systems in Microsoft Azure, such as online banking, the application process, data warehouse, scoring engine, policy and pricing mechanisms.

The Result

According to Microsoft, Lea Bank was the world’s first bank running in Azure Cloud!

Lea Bank has successfully implemented Stacc Core Ledger, significantly streamlining its digital banking operations across Norway, Sweden, Finland, and Spain.

This implementation has not only accelerated the bank’s international expansion but also enhanced the automation and management efficiency of its financial products throughout their lifecycle.

In 2023, Lea Bank expanded its business to the Spanish market, with Stacc providing the underlying IT systems. This includes the core system that handles the entire lifecycle of approved loans and an automated loan application and credit assessment process tailored to the Spanish market. The solution is integrated with local loan agents and enables a fully digital solution for onboarding and granting loans to Spanish customers.

Lea Bank recently decided to continue its strategic collaboration with Stacc to drive automation and further develop its solutions for consumer loans, savings, and refinancing across the Nordics. This decision follows Lea Bank's June 2024 grant of a Swedish banking license.

Lea bank

Lea Bank is a fully digital bank focused on simplifying everyday banking. As a leader in digital innovation, it meets the high expectations of Norwegian customers by developing modern banking solutions and partnering to bring innovative products to market.