Most Norwegians have taken mortgages and loans from banks and we are accustomed to checking in on our debt quite regularly. One loan stands out: the student loan from the State Educational Loan Fund (Lånekassen). The student loan payment occurs every month without most people giving it a second thought. Now several banks are testing out a new service to help customers keep better tabs on their student debt.
Banks roll out student loan overview in their online banking platforms
Cluster member Sbanken started up a pilot-project with Lånekassen two years ago to show your student debt directly in the bank. Two years down the line, the pilot is extending to other Norwegian banks like DNB and Sparebank1.
- We have close to one million customers who with this service will get an updated overview of their student debt right in their web or mobile bank and thereby get a better overview and understanding of their personal economy, says CEO of Lånekassen, Nina Schanke in a press release.
- Surveys have shown that your bank balance online is a sought-after service. Approximately 94% of Lånekassens customers were interested in viewing their student loan in their own online and mobile banking platform, says Schanke.
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Photo: Elin Lindvoll