Cembra Money Bank

Cembra Money Bank AG is a Swiss consumer-finance bank headquartered in Zurich-Altstetten. Its activities are concentrated in retail financial services rather than universal corporate banking, with offerings that include personal loans, vehicle leasing and loans, credit cards, related insurance products, invoice financing, and savings products. The institution serves customers throughout Switzerland through branches, digital channels, credit-card partnerships, independent intermediaries, and automobile dealers. The business has roots in Swiss consumer credit operations dating back to Bank Prokredit, founded in 1912. A second predecessor, Bank Aufina, was established in 1953. Prokredit had previously belonged to UBS and entered the General Electric financial-services group in 1998, while GE Capital had acquired Bank Aufina in the preceding year. The two businesses were combined in 2006 under the GE Money Bank name, creating the direct predecessor of Cembra Money Bank. Cembra separated from the GE Money identity through an initial public offering in the autumn of 2013. The company adopted the Cembra name in connection with the listing; the name refers to Pinus cembra, the Swiss stone pine. The IPO was regarded as an important Swiss exchange listing after a relatively quiet period for large offerings. Since then, Cembra has operated as an independent listed Swiss financial institution. Its shareholder base has included UBS Fund Management (Switzerland), Swisscanto Fondsleitung AG, and BlackRock. The bank has continued to broaden its consumer-finance model beyond traditional loans. It acquired cashgate AG from the Aduno Group in 2019, strengthening its position in Swiss consumer credit. During the first year of the COVID-19 pandemic, receivables reportedly declined by 4% to CHF 6.3 billion. In 2022, Cembra introduced Certo!, its own family of credit cards. In spring 2023, it created CembraPay as a business unit bringing together Swissbilling and Byjuno. The move supported an expansion into digital invoice-payment and buy-now-pay-later services. Swissbilling's invoice-payment functionality was also integrated into the TWINT mobile-payment environment as a pay-later option at checkout. Cembra's positioning is that of a specialist Swiss consumer-finance provider combining regulated banking capabilities with accessible payment and financing products. Its cards support major mobile-wallet and contactless-payment services, including Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay, SwatchPay!, and Click to Pay. The company therefore spans branch-based lending, partner-distributed finance, card payments, vehicle finance, and increasingly digital deferred-payment services.

Cembra Money Bank's history is rooted in the development of Swiss consumer credit. Bank Prokredit was founded in 1912 and became the older institutional predecessor of the present-day bank. Bank Aufina, another important predecessor, was founded in 1953. Prokredit had previously been associated with UBS, while GE Capital acquired Bank Aufina in 1997 and brought Prokredit into its group the following year. The two consumer-credit businesses were consolidated in 2006. Their combination operated under the GE Money Bank name, reflecting the ownership of General Electric's financial-services division. This period established the operating foundation for a nationwide Swiss consumer-finance business offering personal credit, vehicle finance, and payment-related products. A major transition occurred in 2013, when GE Money Bank was taken public and adopted the Cembra Money Bank name. The initial public offering took place in the autumn, with trading beginning in early November on the Swiss stock exchange. The transaction ended the GE Money branding of the Swiss institution and established Cembra as a separately listed Swiss financial company. The new name was derived from Pinus cembra, the Swiss stone pine, and was intended to express a connection with Switzerland and the company's brand identity. Following the IPO, Cembra continued to develop as a specialist consumer bank. Its distribution model combined branches with online services, card partnerships, independent intermediaries, and automotive dealers. Its product portfolio expanded across personal loans, car loans and leasing, credit cards, associated insurance, invoice financing, and savings products. In 2019, the acquisition of cashgate AG from the Aduno Group added further consumer-credit capabilities. The COVID-19 period affected the scale of the bank's receivables. In 2020, its accounts receivable declined by 4% to CHF 6.3 billion. The company subsequently continued to invest in payment and digital-service propositions. In July 2022, it introduced Certo!, a proprietary credit-card family. Cembra also enabled its cards to be used with a broad range of mobile-wallet and contactless-payment services, including Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay, SwatchPay!, and Click to Pay. In spring 2023, Cembra launched CembraPay and brought Swissbilling and Byjuno together under that business unit. This represented a strategic move into digital invoice payment and buy-now-pay-later services. Swissbilling's invoice-payment functionality was integrated into TWINT as a pay-later feature at checkout, linking Cembra's consumer-finance capabilities with one of Switzerland's leading mobile-payment environments. The bank remains active in Switzerland as a listed specialist provider of consumer lending, cards, vehicle finance, savings, and digital deferred-payment services.

1. 2023CembraPay is launched

   Cembra establishes CembraPay and combines Swissbilling and Byjuno within the new business unit to expand digital invoice-payment and buy-now-pay-later services.

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2. 2022Certo! credit-card family launches

   Cembra introduces Certo!, its proprietary credit-card family.

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3. 2020Receivables decline during the pandemic

   Accounts receivable decrease by 4% to CHF 6.3 billion during the first year of the COVID-19 pandemic.

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4. 2019Acquisition of cashgate AG

   Cembra acquires cashgate AG from the Aduno Group.

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5. 2013Initial public offering and rebranding as Cembra Money Bank

   The Swiss institution completes an IPO and begins trading as Cembra Money Bank AG on the Swiss stock exchange.

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6. 2006Prokredit and Aufina merge as GE Money Bank

   The two predecessor businesses are combined under the GE Money Bank name.

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7. 1998Prokredit joins GE Capital

   Bank Prokredit comes under GE Capital, adding another Swiss consumer-finance operation to the group.

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8. 1997GE Capital acquires Bank Aufina

   GE Capital acquires the Swiss consumer-credit business Bank Aufina.

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9. 1953Bank Aufina is established

   Bank Aufina is founded and later becomes part of the business combination that forms GE Money Bank in Switzerland.

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10. 1912Bank Prokredit is founded

    Bank Prokredit, an institutional predecessor of Cembra Money Bank, begins operations in Switzerland.

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A specialist Swiss consumer-finance bank combining personal lending, payment cards, vehicle finance, savings, and digital invoice-payment services.

• Personal loansConsumer lending

  Cembra's personal-loan business provides unsecured consumer financing to customers in Switzerland. It is one of the bank's core retail-finance activities and forms part of the lending platform inherited from the Prokredit and Aufina businesses.

• Auto loans and leasingVehicle finance

  The bank finances vehicle purchases through auto loans and leasing products. Distribution includes relationships with car dealers and other intermediaries, allowing vehicle finance to be offered at or alongside the automotive purchase process.

• Certo!Credit cards2022

  Certo! is Cembra's proprietary family of credit cards, launched in 2022. Cembra's cards can be used with a broad set of digital wallets and payment services, including Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay, SwatchPay!, and Click to Pay.

• Invoice financingPayment and receivables finance

  Cembra offers invoice-financing services as part of its broader consumer-finance portfolio. Through the CembraPay structure and its associated businesses, the group also participates in digital invoice-payment and deferred-payment services.

• CembraPayBuy now, pay later and digital payments2023

  CembraPay is a business unit launched in 2023 to consolidate Swissbilling and Byjuno. It supports digital invoice payment and buy-now-pay-later services, including a Swissbilling pay-later function integrated into TWINT checkout.

• Savings productsDeposits and savings

  Savings products complement Cembra's lending and payments activities, giving the bank a deposit-taking and retail-banking component alongside its specialist consumer-credit operations.

• 2023Build the CembraPay digital-payments unitStrategy

  Digital invoice payment and buy-now-pay-later services were becoming an increasingly important extension of consumer finance.

  What changed. Cembra launched CembraPay and grouped Swissbilling and Byjuno within it. Swissbilling's invoice-payment service was also integrated into TWINT checkout as a pay-later option.

  Aftermath. The bank broadened its activities from conventional lending and cards into digital deferred payments and embedded invoice finance.

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• 2022Launch Certo! credit cardsProduct launch

  Cembra's card business was an established part of its consumer-finance model.

  What changed. The bank introduced Certo!, its own credit-card family.

  Aftermath. Cembra expanded its proprietary card branding and retail payment proposition.

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• 2019Acquire cashgate AGM&A

  Cembra sought to strengthen its position in the Swiss consumer-credit market.

  What changed. Cembra acquired cashgate AG from the Aduno Group.

  Aftermath. The transaction expanded Cembra's consumer-credit operations and customer proposition in Switzerland.

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• 2013Separate from the GE Money identity through an IPO and rebrandStrategy

  The Swiss consumer-finance institution had operated as GE Money Bank after the consolidation of Prokredit and Aufina.

  What changed. The company went public and adopted the Cembra Money Bank name, creating a distinct listed Swiss banking identity.

  Aftermath. Cembra became an independently branded and listed consumer-finance bank on the Swiss stock exchange.

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• 2023Cembra establishes CembraPay for digital payment services

  Cembra launched CembraPay and grouped Swissbilling and Byjuno within the new business unit, supporting expansion into buy-now-pay-later and digital invoice-payment services.

  Product launch
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• 2022Cembra launches the Certo! credit-card family

  Cembra introduced Certo!, its own branded family of credit cards.

  Product launch
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• 2020Cembra reports a decline in receivables during the first COVID-19 year

  Accounts receivable fell by 4% to CHF 6.3 billion during the first year of the COVID-19 pandemic.

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• 2019Cembra acquires cashgate AG

  Cembra acquired cashgate AG from the Aduno Group, expanding its Swiss consumer-credit operations.

  M&A
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• 2013Cembra Money Bank completes IPO and begins trading under its new name

  The institution formerly known as GE Money Bank became Cembra Money Bank AG in connection with an initial public offering on the Swiss stock exchange.

  M&AOther
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1. Cembra Money Bank