Norway’s DNB has invested £3 million for a five percent stake in a new digital banking toolset developed by consultancy 11:FS.
Built to help banks bring digital services to market faster, 11:FS Foundry can be deployed in a modular fashion or as a full-stack legacy replacement architecture.
DNB will be the first client for the Foundry, using the platform to expand its lending capabilities.
Rasmus Figenschou, group executive vice president for new business at DNB, says: “The first task for this partnership will be to see if we can optimize the value chain for unsecured credit at DNB.”