Stacc AS and Elkjøp Nordic AS have entered into a long-term agreement for the delivery of solutions to automate and simplify credit purchase processes related to the purchase of electronics, white goods, kitchens, etc. The goal is for Elkjøp to get an automated and flexible solution that simplifies and improves credit processes over time, can quickly establish new services in new countries, and at the same time ensure that the solution is robust and scales in line with Elkjøp’s needs.
The intention of the agreement is a long-term collaboration to establish new solutions in several countries, and there is already an exciting roadmap for further development after delivery of the first phase of the project.
Elkjøp Financial Services currently offers purchase financing to Elkjøp’s customers throughout the Nordic region. Historically, the department has integrated directly with banking partners and performed the development and operation of all financial services in-house. Due to rapid technological and regulatory changes, Elkjøp wants to focus more on customer-facing product development and focus less on running operations and managing complex processes and integrations. By collaborating with Stacc AS, Elkjøp will be able to streamline development processes across markets, be able to adapt to changes in local legislations and at the same time be able to offer stable and robust financing services to customers. Stacc AS has many skilled employees with broad experience within the banking and finance industry, and the collaboration ensures that Elkjøp gets to take advantage of the knowledge of a well-established player.
Kristian Tovsen, Head of Financial Services in Elkjøp Nordic
Stacc's solution has been developed as an international component that can easily be used in several countries. It is built on Stacc's platform for process automation, Stacc Flow, which is based on a modern cloud architecture. The solution includes an API gateway and a developer portal that makes it easy for Elkjøp to further develop the user interfaces online. The solution is designed to handle Elkjøp’s volumes related to "peaks" such as various campaigns, Black Friday and Christmas shopping and will have a round-the-clock uptime of 24/7/365.
The solution will be delivered as a cloud-based SaaS service from Stacc, based on partnerships with Orange Business and Microsoft Azure. The first project started in June 2023 and is scheduled for completion during September of this year.
We are incredibly pleased to enter into this agreement and look forward to a strategic and long-term cooperation with Elkjøp Nordic. Stacc has over several years built up a solid foothold in the banking and finance industry with deliveries to both large and small players in the Nordic region. It is gratifying to see that in recent years we have strengthened our position as a supplier to several major players with complex needs, including the retail industry.
Geir Nordrik, CEO of Stacc
Stacc AS is a Norwegian fintech group with 230 employees and more than 30 years of experience as a supplier of solutions and services to the banking and finance industry, insurance companies, pension funds and the public sector in the Nordic region.
The company specializes in UX design and front-end solutions, process automation of application, onboarding and credit processes, core systems for lifecycle management of financial products, advisory solutions, as well as solutions for treasury and portfolio management.
Since 2016, Stacc has more than twenty-fold increase in turnover and has great ambitions for growth both in the Nordic region and internationally.
Read more about Stacc:
Elkjøp was established in Norway in 1962 and has over the last 60 years grown to become the Nordic region's largest retailer of electronics for the consumer market. Elkjøp primarily sells home electronics, mobile phones, computers, appliances, household appliances and kitchens (Epoq) – but also relevant services in connection with the product range. Elkjøp is an omnichannel retailer with a presence both online and in more than 400 stores. The Group consists of approximately 11,000 committed colleagues working under the brand Elkjøp and Elkjøp Phonehouse in Norway, Elgiganten and Elgiganten Phonehouse in Sweden, Elgiganten in Denmark and Gigantti in Finland. In addition, you will find Elko in Iceland, Elding in the Faroe Islands and Pisiffik in Greenland.
Read more about Elkjøp Nordic:
Contact information in Stacc AS:
Sales Director, Stacc AS
+47 909 30 285
Contact information in Elkjøp Nordic AS:
Head of Financial Services, Elkjøp Nordic
+47 400 00 045