Case Study: Kraft Bank launches fast and low-cost banking with Tietoevry automated lending solution

Kraft Bank The fastest Norwegian bank launch with the lowest start-up costs

Kraft Bank, a newly established Norwegian bank focused on refinancing for clients in financial distress, required a lean and agile core banking system to launch its operations within a very short timescale. To meet this challenge, the bank partnered with vendor Tietoevry to implement its end-to-end automated lending solution.

Tietoevry delivered a flexible core banking system for consumer credit and deposits that was highly adaptable and easily integrated with third parties. This solution enabled Kraft Bank to launch its lending operation in under three months, representing the fastest and lowest-cost bank startup in Norway. The results were significant, with the bank processing over 362 million NOK in loans within its first seven months and achieving a path to profitability in under a year, far exceeding initial expectations.

Kraft Bank

Svein Ivar Førland

CEO