Knowit & Mambu to digitise SPK’s housing loan solution in Norway

By Gloria Methri

The Norwegian Public Service Pension Fund (SPK) has announced an agreement with Mambu and Knowit, the Stockholm-based digital consultancy. The partnership aims to modernise SPK’s housing loan solution, allowing the institution to build a flexible banking offering.

SPK, which manages the housing loan system for government employees, will launch its new solution next year.

Pairing Knowit’s in-region expertise with Mambu’s cloud banking technology will support SPK as it brings a fully-digital and more end-customer-focused solution to the Norwegian landscape.

“We are proud to have been awarded the contract with the Norwegian Public Service Pension Fund. User-friendly solutions in banking and finance have long been part of our operations, and we are now seeing that more players are taking steps towards a more flexible module-based banking system, with a strong focus on high usability,” said Per Wallentin, President of Knowit.

Mambu joined forces with Knowit in October 2021 to bring modern financial solutions to the Nordic market. By connecting Knowit’s Deploy solution, which is its in-house loan application system, with Mambu—SPK enjoys a frictionless, front-to-back digital experience for its new housing loan offering. The result is a complete application and housing loan track, to be deployed in 2024.

“We see time and again that many established institutions are locked into legacy environments. This makes it incredibly challenging to adapt to new consumer and market demands,” said Nick Van Bommel, Sales Director, Northern & Central Eastern Europe at Mambu.

“With our composable banking framework, SPK can build and enhance its products and services in a digital-first, highly configurable, secure way, and with a fast implementation time. Our robust cloud technology paired with Knowit’s loan origination offering, and its strength of experience in the sector, will support SPK as it provides a user experience that is adapted to each customer’s unique everyday life and needs.”