Building a future-ready deposit platfrom for millions of Norwegians
Coop Norge, one of Norway’s largest cooperatives, is partnering with Knowit and Mambu to build a modern, compliant and scalable platform for managing member deposits.
About the customer
Founded over a century ago, Coop Norge SA is owned by 57 regional cooperatives. Today, it is one of Norway’s largest retail cooperatives, serving over 2.3 million members through a network of more than 1,200 stores and about 28,000 employees.
A key feature of the membership model is deposits: members pay a mandatory deposit NOK 100–300 when they join, and can add voluntary deposits that earn interest over time. These funds are managed centrally by Coop Norge on behalf of all the co-ops.
Deposit accounts are a core part of Coop’s business and identity. Managing them securely and efficiently is essential to maintaining member trust and meeting regulatory standards.
The challenge
Legacy systems limiting scale, efficiency and compliance
Coop Norge’s deposit management solution is critical to the cooperative’s strategy. It plays a central role in strengthening the customer experience and building brand loyalty, encouraging members to choose Coop over competitors.
To support this, Coop needed a modern platform that could handle current volumes, integrate with its broader digital infrastructure and provide the flexibility to adapt to future requirements.
“As a cooperative with millions of members and a long-term responsibility to safeguard their deposits, Coop needs a future-proof core banking solution. We are excited to work with Knowit and Mambu to deliver a modern platform that will support efficient operations, ensure regulatory readiness, and improve the overall member experience.”
- Jens Olav Bjørnson, Head of Digital channels, loyalty and marketing technology, Coop Norge
The solution
A modern composable cloud core
To modernise its core banking platform, Coop entered a long-term partnership with Knowit and selected Mambu’s cloud-native core banking platform to replace its legacy system. The new solution will support the management of both mandatory and voluntary member deposit accounts.
Knowit, a leading Nordic consultancy and long-time Mambu partner, is acting as system integrator. The implementation is being carried out using agile methods, with Mambu’s composable architecture integrated into Coop’s broader IT environment. The agreement spans four years, with the option to extend to eight.
The core modernisation and replacement project is underway giving Coop the ability to operate on a secure, flexible and future-ready platform for deposit management.
Innovation through core modernisation
Incumbent banks and challengers are facing increased expectations to deliver fast, frictionless, digital services to their customers but costly and restrictive legacy infrastructure is holding them back.
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