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Näktergal builds bank systems, with our first system Magellan focusing on consumer lending without securities – from onboarding and underwriting to credit lifecycle management. Our core team has had CTO, System Architect and CEO-positions in the Nordic bank and finance industry and our story starts with our own need to find a next generation systems provider. We badly needed to find system providers that could deliver banking systems able to comply with current business and regulatory demands and keep up with the ever increasing tide of new regulation. Tried and tested system solutions were struggling to meet the new requirements, especially the increasing focus on privacy and information security are hard to retrofit into existing systems built for other challenges. Unable to find a provider that came close to our needs, we decided that this was a business opportunity. Enter Näktergal!
Näktergal Magellan has some great features – it is built for global (our first client is non-Swedish and we have support for time-zones, languages, currencies etc.), it is built for regulatory compliance (Privacy by Design, full(!) change and view auditing, fraud control, KYC, AML, encrypted customer data etc.) and it is built for business success (a powerful star-schema Data Warehouse for business analytics, high level of automation and state-of-the-art usability for customers and staff alike). On a technical level, Magellan is built on a microservice architecture, to make it resilient and adaptable for installation in a number of scenarios and environments while enabling us to change single parts to adapt to new demands (technology, business or regulation) without affecting other areas.
From start, we had a small Finnish bank as customer and shipped our first release to them in november 2016.
Currently, we are closing with a few more small Swedish banks and are setting up a partner network to expand to markets outside the Nordic region.