A Future-Ready Deposit Platform for Millions of Norwegians

RETAIL & SERVICES

In partnership with Mambu, Knowit is helping Coop Norge modernise the heart of its cooperative model: member deposits. The new cloud-based platform will ensure secure, compliant, and efficient management of funds, building trust and preparing Coop for the next generation of digital services.

A Cooperative with Deep Roots

Founded over a century ago, Coop is one of Norway’s largest retail cooperatives, owned by 57 regional co-ops and serving over 2.3 million members through more than 1,200 stores nationwide.

At the core of its membership model are deposits. Every member contributes a mandatory deposit of NOK 100–300 and has the option to add voluntary deposits that earn interest over time. These funds are managed centrally by Coop Norway on behalf of all regional co-ops; a responsibility that demands both operational excellence and strong regulatory compliance.

Legacy Systems Holding Back the Cooperative Vision

Managing deposits for millions of members is a complex operation requiring security, scalability, and precision. Yet, Coop’s existing deposit management system had reached its limits. Manual processes and ageing technology restricted efficiency, made compliance more difficult, and hampered integration with the company’s broader digital ecosystem.

To deliver seamless, compliant, and future-proof services, Coop needed a modern platform capable of handling growing transaction volumes and evolving regulatory requirements—while strengthening member loyalty and trust.

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 & Marketing Technology

Coop Norge.

A Modern, Composable Cloud Core

Knowit is leading the implementation as system integrator, partnering with Mambu to deliver a secure, scalable, and compliant deposit platform. The new cloud-native solution will replace Coop’s legacy system and manage both mandatory and voluntary member deposits.

Built on Mambu’s composable architecture, the platform integrates seamlessly into Coop’s broader IT environment and supports agile development. This allows for faster innovation, simpler updates, and more efficient operations. The long-term agreement spans four years with the option to extend to eight. This ensures a stable partnership for continuous improvement and growth.

By modernising its core banking system, Coop gains a solid digital foundation that strengthens operational efficiency, meets strict regulatory standards, and enhances the overall member experience.

Supporting Agenda 2030 – Building Resilient Infrastructure for Inclusive Growth

This modernisation contributes concretely to two of the UN Sustainable Development Goals:

Goal 8 – Decent Work and Economic Growth: The new platform supports a more efficient and transparent financial service model, enabling Coop to reinvest in local communities and strengthen Norway’s cooperative economy.

Goal 9 – Industry, Innovation and Infrastructure: By replacing outdated technology with a secure, cloud-based solution, Coop is enhancing digital infrastructure and fostering innovation across one of Norway’s largest member organisations.

Through this partnership, Knowit and Mambu are helping Coop Norway safeguard member trust and create a resilient digital backbone for the cooperative economy of tomorrow.