Our Visit to the Sambla Group in Stockholm
As part of our study trip to Stockholm we had the opportunity to visit the Sambla Group, one of the leading fin-tech companies in Sweden. Such a visit provides a great insight into the problems and strategies related to the internationalization of this financial industry.
To make the experience even more special, the presentation in the office was held by the alumna from Novia, Corinne Kronqvist. Corinne finished her bachelor's degree in 2019 at Novia and her master's at Hanken University. She has been working for the Group since February 2022. Now she is leading the retention team in the marketing department, and she was able to share her precious experience, which made this session so relatable and so inspiring for us as students who are following a similar academic path.
About Sambla Group: A Regional Leader in Loan Comparison
The Sambla Group acts as an intermediary in loans, guiding customers through the process of finding suitable financial solutions. Based in Stockholm, the offices are also found in other cities such as Lund, Helsinki, and Oslo. The Sambla Group connects people to more than 40 banks and financial institutions. This network is developed with established banks like SEB, Santander or Nordea and niche lenders so that customers may choose from a wide variety of loan offers in a competitive manner.
Since its founding, Sambla Group has identified a smooth, transparent, customer-first approach to service. It boasts a specialization in several financial products, including personal loans, mortgage loans, and debt consolidation, with unique solutions that vary according to the differing needs of each market. It is, therefore, important to bear in mind that while the company intermediates such loans, it is no bank - an experienced counsellor with the aim of making the decision-making process when it comes to finance simpler.
International Expansion Through Localized Services
Internationalization forms an important essence of the Sambla Group value proposition. Using 11 brands, the services focus on various needs at each country level. In Sweden, for example, it considers the UC credit score system one of the aspects when making loaning decisions. The Sambla Group does only one credit check because it seeks to have its action impact positively on their customers' scores. Such innovation strategies fill an important gap and, in fact, make the market much stronger by deepening its competitive edge. The Swedish three brands of the Sambla Group are Sambla, advisa and mymoney.
Operating in Denmark (with the brands DigiFinans, Saverium.dk and Sambla) and Finland (with the brands OMAlaina.fi, Rahalaitos and Rahoitu.fi), the Sambla Group localizes services through adaptation to unique cultural and regulatory frameworks. Flexibility within their alignment with the local norms and preferences has fueled its expansion. Notably, the entry of the Sambla Group into Norway in 2015 (with the brands Sambla and DigiFinans) and Finland in 2017 is an ideal example of its strategic scaling approach. This scaling up is a trust-building exercise in new markets, with the core identity intact.
A Data-Driven Marketing Machine
According to Corinne Kronqvist, Team Lead of Retention within the company's marketing department, marketing is the backbone of the growth strategy. Built around performance-based strategies, its 35-member marketing team automates and analyzes data to send personalized messaging.
Every single campaign is designed to send the customers an appropriate offer through the channels they choose from SMS, email, and push notification at the right time. These kinds of strategies act as complementary to the tools that work better for enhancing customer engagement and at the same time help in retaining customers of a company wanting. Based on the preferences and behavior of the customers, the marketing team segments these customers into different categories so that they get targeted with personalized experience in an accurate way. This, of course, will open the doors for trust and loyalty to last.
Retention Strategies: Building Relationships That Last
It is here that the retention strategies of the Sambla Group come into play, standing out in its operational model. Corinne explained how the company works at enhancing the CLV (Customer Lifetime Value) by building a better relationship with personal contact. That would include tailored financial advice, timely updates about market trends, and the options for loan renegotiation - all that is meant to create value on a continuous basis.
How to Navigate Challenges in Fin-Tech
The fin-tech field is highly regulated, which makes the work really challenging. This is compounded by the complexity of financial products and the strict guidelines imposed on the Sambla Group, such as GDPR and consumer protection laws. The challenges, on the one hand between innovation and regulatory compliance, are equally imposed, according to Corinne. In addition, cultural differences in financial behavior across markets are obviously calling for strategic flexibility. Sweden has started to economize as a lot on credit checks other than such as Denmark, the system of scoring customers focuses extra on low-interest rates or flexible situations of credit by premium accounts, for instance.
Collaborating for Customer Success
One of the most competitive edges of the Sambla Group is its huge partner network. With over 40 banks and lenders, the company can provide customers with a level of flexibility and range of options that no one else can offer. The cooperation allows it not only to find solutions for customers tailored to their needs but also to strengthen its positions as a reliable intermediary within the financial ecosystem.
This means fewer obstacles for customers when comparing loans. Instead of having to go around various banks, they can let the service provider handle the process but still receive several offers with just one credit check. This unique value proposition has helped to serve over 390,000 customers to date.
Key Lessons from Sambla Group
The visit with the Sambla Group showed quite practically what it takes to be outstanding within a highly competitive and regulated industry. Some points to remember:
- Localization is Key: The degree to which the Sambla Group lends itself to localization of brands at the cultural and regulatory level speaks volumes as to how important this factor really is.
- Put Customer Needs First: Smooth credit check, personalized services and enhanced onboarding process pay off at Sambla Group with life-long customer trust.
- Collaboration Strengthens Reach: Partnerships with various lenders empower the company through the presentation of flexible and competitive financial solutions.
- Marketing as Growth Engine: Segmentation and outreach build on data for high levels of engagement and retention.
Look Ahead
Success with the Sambla Group underlines evidence that a winning formula is realized by a mix of innovative technology with real customer-centricity. Transparency, personalization, and strategic partnerships are believed to make it always a step ahead of the fin-tech competition.
Author: Rebecca Albrecht, Exchange Student from Germany in the lecture “Company Internationalization”, Faculty: Business Administration