Powering Norwegian businesses' growth
Innovation Norway partnered with Mambu and Knowit to modernise its core banking platform, marking a significant milestone in the digital transformation of public financial services.
About the customer
Innovation Norway is a key instrument of the Norwegian Government, supporting innovation and business development of Norwegian enterprises and industry.
It supports companies in developing their competitive advantage and to enhance innovation. Innovation Norway is the Norwegian government's official trade representative abroad aiming to assist Norwegian businesses to grow and find new markets.
Innovation Norway is present in 23 international markets and in 2023 alone has distributed more than NOK 7 billion in loans and grants.
The challenge
Building an innovative financial platform
As Norway’s government-owned national development bank, Innovation Norway plays a pivotal role in supporting innovation and business development across all counties in the country.
To support the needs of its customers, Innovation Norway required a replacement for its legacy banking solution, which handles critical functions related to loans, grants, and guarantees, including loan origination, product configuration and setup, funding management, credit processes, and case management.
“Innovation Norway plays an important role as an industrial bank supporting Norwegian companies by offering the full range of financing solutions: risk loans, market loans, guarantees, and grants. We are looking forward to further improving our services together with Knowit and Mambu by building a financial platform that will serve our customers in the years to come.”
- Leon Bakkebø, EVP Banking & Financing at Innovation Norway
The solution
A cloud-native core built for speed and scale
To achieve its digitalisation and greater efficiency goals, Innovation Norway selected Mambu as its core banking platform in the summer of 2025. Knowit acted as the primary system integrator ensuring smooth implementation and integration of the new platform within Norway’s financial ecosystem.
The new platform streamlines operations across loans, grants, and guarantees. Automated workflows reduce manual tasks and accelerate case handling. Real-time data gives leaders a clear view of performance and bottlenecks, supporting faster decisions and more effective portfolio management.
The impact
Empowering Norwegian innovation
The modern core is equipping Innovation Norway with a platform built for long-term growth. With its composable design, teams are able to configure and release new financial products in days rather than weeks, allowing them to respond quickly to changing business needs.
Together with Mambu and Knowit, Innovation Norway has now built a robust infrastructure that allows them to focus on their primary mission: assisting Norwegian businesses to grow, find new markets, and drive value creation throughout the country and beyond.
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. Enter Mambu.
