Bosam innovates the Swedish market for housing co-operative loans and selects Vilja's banking platform

The fast-growing company Bosam selects Vilja's cloud-based banking platform for its unique Credit Application Process for housing co-operatives (in Swedish “Bostadsrättsföreningar”), launched in Sweden on October 28, 2022. Vilja's platform provides a better customer experience through a digital, automated and flexible credit verification process.

Bosam has developed and successfully launched a new financing model for co-ops that enables 50-70% lower apartment price compared to traditional co-op apartments by reallocating debt from residents to co-ops through loans with fixed interest rates. The mission is to give significantly more people a chance to enter the housing market.

"We, at Bosam, want to change the way you look at the financial sustainability of housing co-operatives, ensuring that all residents, and thereby the co-ops, have healthy and stable finances. Through a smooth and safe process for the financial assessment of future members, we can ensure this. In the development of this digital platform, Vilja has been our preferred partner since the start," says Timmy Andersson, Chief Commercial Officer at Bosam.

"Bosam is an inspiring company with an innovative business model, and we look forward to supporting them on their growth journey. The housing market is changing, and we are investing heavily in offering the best digital platform for housing co-operative loans and other types of mortgage loans," says Fredrik Ulvenholm, CEO at Vilja.

Vilja Mortgage Loans is a complete solution, from the application via credit check to ongoing credit management - designed for self-service and automation. The solution has an adaptable architecture and with the help of microservices, scalability is ensured. The solution is cloud-based and APIs enable unique digital customer journeys based on insightful algorithms.

For more information, please contact:

Fredrik Ulvenholm, CEO at Vilja, fredrik.ulvenholm@viljasolutions.com

Timmy Andersson, CCO at Bosam, timmy.andersson@bosam.se

About Bosam

Bosam is a newly started company with the mission to give, primarily, the young generation a chance to enter the housing market. Bosam has developed and successfully launched a new financing model for co-ops that enables 50-70% lower apartment price compared to traditional co-op apartments. The model is based on reallocating debt from residents to co-ops – lowering the price for individuals. The loans are financed by Swedish institutional investors and are issued with fixed interest rates and fixed amortization plans, with a term of 20 years.