Knowit and Mambu to power Coop’s new core banking

By Vriti Gothi

Coop Norge SA (Coop) has partnered with Knowit and Mambu to implement a next-generation core banking platform that will reshape the way member deposits are managed. The initiative represents a significant step in Coop’s digital transformation journey, ensuring that the financial backbone of one of Norway’s largest cooperative networks is modern, agile, and future-ready.

Coop, collectively owned by 57 independent cooperatives and serving more than 2.3 million members, operates a unique model where every member makes a statutory deposit upon joining, with the option of voluntary interest-bearing deposits. These deposits are fundamental to Coop’s member-centric proposition, and the new platform will enhance their administration with advanced scalability, security, and transparency.

“At Coop, safeguarding the deposits of our millions of members is both a legal obligation and a long-term commitment. We need a future-proof solution that strengthens operational efficiency while enhancing the member experience. Working with Knowit and Mambu allows us to deliver a modern, compliant, and resilient core banking platform that supports our growth and reinforces member trust,” said Jens Olav Bjørnson, Head of Digital Channels, Loyalty and Marketing Technology at Coop Norge.

The new platform is powered by Mambu’s cloud-native, SaaS-based core banking engine and will be seamlessly integrated into Coop’s IT ecosystem by Knowit, which will act as the lead system integrator. Together, the two partners bring a blend of technological innovation and regional expertise to ensure a smooth transition from legacy systems to a digital-first infrastructure tailored to Coop’s cooperative model.

“Traditional systems make it increasingly difficult for financial institutions to keep pace with evolving customer and regulatory demands. With Mambu, Coop gains a cloud-native core banking platform designed for agility, scalability, and compliance readiness. Together with Knowit, we are delighted to help Coop redefine the way member deposits are managed for the digital age,” said Jorno Levels, Commercial Lead Nordics & Baltics at Mambu.

The modernisation programme is planned over a four-year period, with options to extend annually for up to eight years. Development of the new system is already underway, positioning Coop at the forefront of digital innovation in cooperative banking.