Näktergal is a Stockholm-based fintech that was founded in 2015 by two experienced banking professionals, Erik Bennerhult and Mikael Abrahamsson, with a mission to revolutionize outdated and inefficient banking systems. Erik Bennerhult tells Qorus more about it.
What led to the creation of Näktergal?
Having spent decades dealing with complex and manual legacy technologies, we were determined to bring about change. From the outset, our consumer lending system attracted paying customers, and it has since evolved into a highly configurable solution that can be launched in just a few weeks.
However, we soon realized that the mortgage industry presented the biggest challenges, given that it largely relies on antiquated manual processes and legacy technologies. This realization prompted us to shift our focus to mortgages. Mortgages have been relatively untouched by digitization, and we still see ample room to make mortgages better for banks and consumers. In fact, it was the inspiration for why we started Näktergal.
Borrowers now expect user-friendly experiences in their digital lives, and banks must adapt to these expectations. Yet, many mortgage applications still require multiple exchanges of documents and different systems for different stages of the process, resulting in a time-consuming and frustrating experience for both parties. To address these issues, we have developed a mortgage lending system that streamlines and automates various aspects of the mortgage process. By identifying areas that could be simplified and automated, we aim to make the mortgage application process more efficient and user-friendly for all involved.
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