SAS is usually very correct with such payments. I had a few cases recently, the money was in my account three days after the incident every single time.

Also for a > 3.500km (e.g. you booked to KEF from Asia) you should only receive 300 € for a 3-4 hour delay.
In your case (if you started from Europe to KEF) it is most likely a 1.500 - 3.500km flight and it would be 400 € in your case.

If you complain for compensation, compare to WOWair for KEF. It will take you 6+ months if you get any money from WOW (and they are almost bankrupt).
But also other StarAlliance airlines can be very relaxed with paying, e.g. TAP Portugal took me 5 months...