Eiendomskreditt Selects Knowit and Mambu to Modernise Its Core Banking Platform

WHY THIS MATTERS: This multi-year mandate underscores a critical acceleration in the core modernization trend among specialized European lenders. For Eiendomskreditt, transitioning its commercial real estate lending to a cloud-native core is a direct investment in competitive agility. While traditional banks struggle with monolithic systems that prevent product customization, this move towards a composable banking architecture allows a niche player to streamline complex operations—such as loan origination and portfolio management—for operational efficiency. This choice validates the strategy of separating the core ledger (Mambu) from integration layers (Knowit’s BankConnect) to achieve scalability and foster faster product development. The entire industry is watching how successfully this model delivers the promised flexibility required to dominate a specialized lending segment over the next five years.

Eiendomskreditt has selected Knowit and Mambu to modernise its core banking platform, marking an important milestone in the company’s continued digital transformation. The new solution, powered by Mambu’s cloud-native core banking technology and seamlessly integrated through Knowit’s BankConnect platform, will replace the existing solution and provide a modern, flexible and future-ready foundation for mortgage lending.

Eiendomskreditt AS is a specialised financial services provider offering commercial real estate lending across Norway. To support future growth and evolving market requirements, Eiendomskreditt requires a modern core banking platform capable of delivering increased flexibility, scalability and operational efficiency.

The new solution will streamline processes related to loan origination, product configuration, credit handling and portfolio management, while improving data quality and enabling better real-time insight. These improvements will support Eiendomskreditt’s ambition to deliver efficient, compliant and customer-oriented lending services.

Knowit will act as the main contracting partner and system integrator for the project, delivering the BankConnect integration platform and ensuring seamless integration across the solution landscape. Mambu will provide the core banking engine as a cloud-native SaaS platform along with AWS as cloud service provider.

Together, Knowit and Mambu will deliver a robust and scalable architecture designed to meet both current and future business requirements, while enabling faster innovation and reduced operational complexity.

“This project represents an important step in strengthening Eiendomskreditt’s technological foundation. By combining Mambu’s flexible core banking platform with Knowit’s integration expertise and BankConnect, we are delivering a solution that supports future growth, regulatory requirements and efficient operations,” says Eirik N. Christensen, CEO at Eiendomskreditt AS.

“We are proud to support Eiendomskreditt in modernising its core banking capabilities. Together with Mambu, we deliver a flexible and scalable platform that enables faster product development, improved data insight and a future-proof architecture,” says Rune Ivarsflaten, CEO Knowit Financial Solutions.

“Transforming a core banking stack is a significant move, which is why Eiendomskreditt chose the most proven cloud-native ecosystem in the Norwegian market. The Mambu and Knowit partnership delivers a modern foundation that provides the agility and scalability needed to grow and we are excited to support them as they continue to evolve,” says Jorno Levels, Commercial Lead Nordics at Mambu.

The agreement includes implementation of the new core banking platform with the project spanning over five years. The project has already been started.

FF NEWS TAKE: This agreement is highly significant for the Nordic region, confirming the strength of the Mambu and Knowit partnership ecosystem in tackling complex, multi-year core replacement projects. Replacing the entire core banking stack for a specialized real estate lender is not trivial, and this move definitively pushes the needle toward full cloud-native adoption for even regulated commercial lending. The key watchpoint now is the delivery of quantifiable improvements in time-to-market for new loan products and the tangible reduction in operational complexity over the first two years.