Eiendomskreditt taps Knowit, Mambu for core banking upgrade

By Parth Prabhudesai

Eiendomskreditt has partnered with Knowit and Mambu to replace its legacy core banking system with a modern, cloud-native platform.

The initiative aims to enhance operational efficiency, scalability, and customer experience for the lender, which specialises in residential mortgages and covered-bond financing. Eiendomskreditt currently relies on traditional systems to manage loan origination, credit processing, and product configuration, leading to increased manual workloads and limited agility.

By adopting Mambu’s SaaS-based core banking engine and leveraging Knowit’s integration expertise, the company plans to streamline operations and enable real-time data processing. The platform’s composable architecture will allow Eiendomskreditt to launch and scale products more efficiently while integrating seamlessly with third-party tools.

Eiendomskreditt noted, the transformation is an important step in modernising our technology foundation, enabling us to improve efficiency, strengthen risk management, and deliver better services to our customers.

Knowit will act as the lead system integrator, ensuring the platform is tailored to Eiendomskreditt’s workflows while meeting Norwegian regulatory requirements. The project is expected to reduce manual processes, improve data quality, and provide real-time insights for decision-making.

From a customer perspective, the new system is expected to support faster loan approvals, more personalised offerings, and an improved digital experience. The scalable infrastructure will also allow the lender to expand its mortgage portfolio without significantly increasing operational costs.

Mambu also noted that the cloud-native core banking platforms are enabling financial institutions to move faster, innovate, and respond effectively to changing market demands.

The move reflects a broader trend across the Nordic region, where financial institutions are accelerating the shift to cloud-based core systems to remain competitive and future-ready.