Norwegian State Housing Bank, Husbanken, has selected banking software provider Temenos as its technology partner to digitalise its lending process.

The bank will deploy Temenos’ cloud-native core banking solution Temenos Transact to replace its legacy IT system.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

According to the vendor, Temenos Transact will help the bank improve its back-office operations and accelerate its three-year efficiency programme to reduce operating costs.

The AI-driven technology is said to automate and speed up the process of offering housing loans and grants to residents and municipalities.

Temenos Benelux and Nordics regional director Alain Vansnick said: “Temenos has deep experience in supporting Nordic banks, from tier ones to digital challengers, and helping them achieve operational excellence and deliver innovative products and services to their customers.

“With Temenos Transact we will enable Husbanken to streamline the delivery of vital loans through powerful back-office automation and standardisation, freeing up the bank’s resources to better support its customers’ wellbeing.”

Established in 1946, Husbanken works alongside the Norwegian Housing for Welfare strategy.

Last year, the bank processed NOK27bn ($2.82bn) in loans, grants and housing support to its customers.

Husbanken CIO Anders Jorgensen said: “Husbanken’s core priority remains to improve social wellbeing across Norway by providing simple access to vital housing loans for municipalities and residents alike.

“In order for us to extend our reach and process greater volumes of loans, we needed a core banking product that could underpin our digital transformation and drive significant efficiency gains.”

In addition, the bank will leverage Temenos Financial Crime Mitigation (FCM) suite, which is already integrated with Temenos Transact.

FCM is said to support comprehensive financial crime protection such as anti-money laundering, sanctions screening and fraud management.