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Transforming Landsbankinn's Accounts Receivable System

In 2018, Landsbankinn partnered with Itera to transform its Accounts Receivable Management and Collection System, known locally as Innheimtukerfi or Innheimtuþjónusta. This system plays a vital role in the bank's corporate banking operations.

About Landsbankinn

Landsbankinn, Iceland's largest bank, has been a cornerstone of the nation's financial services since 1885. Known for its commitment to value creation and innovation, the bank continues to strengthen its digital products and infrastructure.

 

Building scalability with modular systems

To address the limitations of its legacy systems, Landsbankinn implemented modular REST APIs, following a detailed redesign of its core functionality. This shift reduced maintenance costs, improved efficiency, and streamlined integration processes. The new architecture not only supports scalability and security but also positions the bank to adopt future innovations, including the Open Banking initiative.

 

Seamless high-volume processing of transactions

A significant milestone was the overhaul of batch processing systems, transitioning to a distributed queuing platform that delivered greater robustness, scalability, and resilience. This upgrade ensured high-volume transactional needs could be met with speed and reliability. The revamped accounts receivable system was also integrated across various digital platforms, including mobile apps, corporate portals, and B2B solutions, ensuring a seamless user experience.

Prioritizing client experience

The transformation went beyond technical improvements by simplifying workflows and communication protocols, allowing for faster and more efficient client interactions. The result is a system that better supports the bank’s customers and internal teams alike.

 

A forward-thinking partnership

This complex project required deep expertise and collaboration between Landsbankinn and Itera to overcome the challenges posed by legacy systems. The result is a resilient, scalable solution that sets a strong foundation for future advancements, ensuring Landsbankinn continues to lead in digital innovation and deliver exceptional services to its clients.

Get in touch

Get in touch
Head of Itera Iceland

Snæbjörn Ingi Ingolfsson