Komplett Bank goes live!

Banqsoft chosen as primary IT solution and system operation supplier for start-up Komplett Bank.

When Raimond Pettersen, founder of Komplett Bank, introduced his plans to establish a completely new bank to Banqsoft, he had a clear idea of how this new bank would differentiate itself from the existing market players. To realise these plans, he needed an IT partner that could offer the necessary expertise and flexibility to successfully launch completely new products in the banking sector.

Komplett Bank, which opened its customer portal on 24 March, offers customers personal and consumer financing with superior flexibility and very favourable terms.

To realise its ambitious objectives, Komplett Bank had a number of basic require ments of potential suppliers.

  1. Self service
    Customers must be able to manage their account themselves in exactly the way they want without having to contact the bank. Everything must be possible to be done online.
  2. The application process and all customer communications must be carried out electronically, including the signing of agreement documentation.
  3. The IT system must be able to handle large volumes with a minimal need for case handler resources.
  4. All IT administration procedures must be handled by the solution supplier.
  5. The IT solutions must not cause a bottleneck situation when new products are launched on the market; rather they should act as a tool for realising plans.
  6. The option for flexible sales channels in which end clients and partners alike can easily access the bank’s products, either as a customer or by integrating the products into the sale of their own goods. Komplett Bank cooperates with Komplett Group, one of the bank’s majority owners, which is behind several of the most successful online stores in Norway and Scandinavia, including Komplett.no, MPX.no, Blush.no, and Bildeler.no.

Following its participation in one round of bidding, Banqsoft was chosen in the spring of 2013 as the primary supplier of both core solutions and front solutions, as well as all operational services. It was crucial to Komplett Bank that the IT supplier operate more as a long-term partner in the development of the bank than as a mere systems supplier. As a result, the implementation of the project has also been based on close, effective collaboration between the companies in all areas throughout the entire project phase.

In late March, one year after concluding the agreement, Komplett Bank opened its customer portal, offering the market’s most favourable terms for personal and consumer loans combined with a very competitive deposit product.

Komplett Bank and Banqsoft are continuing to work together on the development of new complementary products and functionality.

Banqsoft is proud to have been chosen as the partner for one of the Nordic banking sector’s most exciting start-ups in recent years, and is looking forward to what the future holds.

About Komplett Bank

Komplett Bank is a Norwegian bank offering personal loans and consumer financing without security and savings account s on favourable terms. The bank was established in 2014 after having been granted a licence from the Norwegian Financial Supervisory Authority. It is a member of the Norwegian Bank Guarantee Fund. All deposits up to NOK 2,000,000 are covered by the Guarantee Fund’s deposit guarantee. 

Komplett Bank cooperates with Komplett Group, one of the bank’s majority owners. Komplett Group is behind several of the most successful online stores in Norway and Scandinavia, including Komplett.no, MPX.no, Blush.no, and Bildeler.no.

About Banqsoft

Banqsoft is a leading provider of financial software in the Nordics, offering solutions to retail banks, consumer finance providers and asset finance companies.

In addition to a comprehensive suite of financial solutions, we offer a wide range of consulting & operational services. Banqsoft shall focus on innovation and business development to provide new financial products and competitive distribution channels, to give our customers new business opportunities and competitive advantages. We have the insight, expertise and concepts needed for the financial industry to keep up with new market trends and requirements, as well as the ongoing digital transformation.