Estonian P2P Lending Platform Bondora* has submitted an application for a bank license in Estonia (source; paywall). Pärtel Tomberg, Bondora CEO is cited saying ‘This is a significant step and the beginning of a new phase.’. He expects teh FSA to grant the banking license in 2026.
According to earlier media reports Bondora selected Tuum as the supplier of its cloud-native core banking platform. According to a press release ‘Tuum was selected for its modular design, cloud-native architecture, and ability to meet stringent EU regulatory expectations. The decision was also supported by Tuum’s track record with other Eurozone institutions, including LHV and OP Financial Group.’
‘Choosing Tuum means we can focus on customer experience and innovation while building on a modern, scalable foundation’ said Andrus Raudsalu, Chief Strategy Officer at Bondora.
Bondora follows earlier similar moves of p2p lending marketplaces evolving into banks, e.g. Zopa in the UK.