Instabank Expands Product Suite with Banqsoft

Mortgage credits will be one of the central deliveries from Banqsoft in 2020 to support the bank’s ambition and strategic platform.

The agreement was signed in February 2020 for the establishment of a mortgage consumer credit loan product. Instabank and Banqsoft jointly defined the tasks involved in setting up a secured loan product with payment plan and mortgages collaterals in View21. 

“New product / loan with collateral is one of several important elements that support the bank's strategy of becoming ‘formålsbanken’,” states Robert Berg, the CEO of Instabank, “The project completed on time and cost, and the effective project teams and good collaboration were crucial to a successful and relatively intensive project for both organizations - in a time of more "remote work" than usual.”

The scope included the entire setup, such as addition of collateral information & online bank changes to handle the new product and invoices, letters and documents. Through the successful and quick implementation of these products, Banqsoft’s successful cooperation together with Instabank continues. 

“We are pleased that our successful partnership with Instabank continues, and that our financial solutions and products prove to be highly sought out among the top digital banks in the Nordics,” says Banqsoft CEO Terje Kjøs. “I look forward to support Instabank’s growth initiatives with software solutions that are consumer centric, which will best position Instabank to keep up to speed through future market and digital transformations.”

Instabank ASA is a Norwegian digital bank, launched in September 2016, with an office at Skøyen in Oslo. The bank's vision is to create the best customer experience in its market - and has an uncompromising focus on accessibility, simplicity and innovation. Instabank currently offers favorable savings products, insurance and unsecured loans to private individuals in Norway, Finland and Sweden. In addition, the team is constantly working to develop new products and services.

Banqsoft is a leading provider of financial software solutions for asset finance and digital banks in the Nordics, offering future-proof systems in order to help auto finance companies stay ahead of the game. From end-to-end standardization and highly automated customizable platforms and processes, Banqsoft has the insight and technology to keep your bank or finance company up to speed of future market changes and innovations.