Bondora's primary asset is the intellectual property of IT systems that power its websites and business operations. Bondora IT operations are integrated with its commercial activities and there is no separate IT department. Bondora engineers, overseen by three technical architects but reporting directly to specific business unit or project team leaders, are collectively responsible for the software applications that are used in its business operations. They ensure that the quality of the code is within Bondora’s guidelines, deploy and manage infrastructure, and make sure that Bondora’s systems function smoothly and remain operational. All development teams work in the same physical location, helping to facilitate smooth communications and know-how sharing.
Bondora develops and maintains the core IT architecture for its business, which refers to the IT platforms, technologies and solutions that enable its websites to provides services and products to customers. Bondora possesses the full scope of internal IT support systems that facilitate delivery of:
- (i) a full cycle of IT service development, such as website creation for new markets and hardware configuration;
- (ii) transition, which includes software and hardware transition and adjustments for new markets and scheduled or accident maintenance; and
- (iii) management, such as website administration and data center management.
In developing its websites and infrastructure, Bondora incorporates the most sophisticated technologies and solutions available on the market today. Moreover, Bondora continually evaluates new technologies and approaches that may help to improve efficiency.
Bondora has developed and utilized proprietary and custom-designed technology platforms designed to be (i) powerful enough to process the large volumes of data required to evaluate borrower applications and (ii) flexible enough to capitalize on changing borrower preferences, market trends and regulatory requirements. Moreover, the information gathered from these technology platforms allows Bondora to target current or prospective borrowers who it believes are more likely to provide Bondora with better credit performance. Using this approach, Bondora can create a valuable list of consumers who use its products and to whom it can market new product offerings.