Sweden-headquartered digital bank has deployed Vilja’s cloud-native core banking technology. The collaboration enables Qred to configure and launch deposit products with flexibility, speed, and offers seamless integrations with other technology providers. Qred said that from project kick-off to launch took only took four months.

“We want a turn-key deposit solution that is easy to implement and with functionalities that enables us to rapidly expand our deposit product portfolio. For us, speed and agility are important, as well the advantages of a cloud-native delivery, including continuous updates and adherence to the highest security and compliance standards. Our cooperation with Vilja has been smooth and the project was successfully delivered both on time and budget,” said Emil Sunvisson, CEO at Qred.

Fredrik Ulvenholm at Vilja, added: We are proud to work with Sweden’s newest bank and be part of Qred’s exciting journey ahead. Having Qred on our banking platform further strengthens our position as the leading cloud-native provider for deposit solutions in Sweden.

According to Vilja, its comprehensive end-to-end solution offers significant improvements in efficiency and lowers the total cost of ownership. With its API-first approach, Vilja Deposit is designed for self-service and automation. Moreover, it ensures a seamless and superior customer experience. By integrating all necessary functionalities into a single system, Vilja said it empowers banks and financial institutions with a streamlined and user-friendly platform.

Qred launched in 2015 and was granted a full banking licence last year. With its AI-powered financing platform, Qred has issued over 100,000 loans to small businesses in the Nordics and Benelux region.