Coop Norge SA, owned by 57 independent cooperatives and serving more than 2.3 million members, is taking a major step toward digital transformation. By adopting a modern core banking solution, Coop aims to enhance security, transparency, and efficiency in managing both mandatory and voluntary membership deposits.
In Norway, every Coop member is legally required to make a membership deposit when joining. Members may also make additional voluntary deposits that earn interest. These accounts remain a key part of Coop’s member offering, and the new platform will ensure long-term reliability, compliance, and scalability.
“As a cooperative with millions of members and a responsibility to safeguard their deposits, we need a future-proof banking solution. With Knowit and Mambu, we will deliver a modern platform that supports efficient operations, regulatory compliance, and an improved member experience.”
— Jens Olav Bjørnson, Head of Digital Channels, Loyalty & Marketing Technology, Coop Norge
A Modern, Cloud-Driven Approach
Knowit will lead the system integration, while Mambu provides its SaaS-based core banking engine. Together, the companies will deliver a cloud-native, flexible, and scalable solution tailored to Coop’s cooperative model.
“We’re proud to support Coop in creating a robust and future-ready banking system. Combining our experience in financial services transformation with Mambu’s proven technology ensures a seamless transition that benefits Coop’s members for years to come.”
— Jan Georg Lehmann, Chief Commercial Officer, Knowit Financial Solutions
“Legacy systems often limit agility and compliance. With Mambu, Coop gains a cloud-native banking platform that offers scalability, flexibility, and regulatory readiness. Alongside Knowit, we’re excited to help Coop transform how member deposits are managed.”
— Jorno Levels, Commercial Lead Nordics & Baltics, Mambu
Long-Term Transformation Plan
The implementation project is planned to run over four years, with the option of annual extensions for up to eight years. Development of the new system is already in progress, positioning Coop for a stronger digital future.
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