Simplifai signs agreement with Norway’s second largest bank, Sparebank 1 SR-Bank

Simplifai has signed a strategically important 3-year innovation partnership with Sparebank 1 SR-Bank. This is a milestone achievement as Sparebank 1 SR-Bank has proven to be a first mover within fintech in the Norwegian banking industry.

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Banking

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May 23, 2022

The 3-year contract includes a Digital Employee for email management (Emailbot) for both the retail and corporate customer centers in addition to a strategic innovation partnership.

“The innovation partnership means that we will work together to further develop the solutions, investigate new applications and new use cases within Sparebank 1-gruppen and to create better and more efficient automation solutions for the banking sector,”

Bård Myrstad, CEO of Simplifai.

Sparebank 1 SR-Bank is regarded as an early mover in the banking industry for the use of Artificial Intelligence and has for many years been a fintech innovator. The bank’s retail and corporate customer centers handles 300.000 emails every year and will apply Simplifai’s AI-based Emailbot solution to automate the process of handling and responding to the large and growing number of customer requests. The Emailbot will use AI to analyze and process 100 percent of emails by classifying, handling processes, extracting metadata, archiving, forwarding, and replying.

“SR-Bank works continuously to streamline internal processes to create better customer experiences. We see great potential for streamlining back-office operations through the collaboration with Simplifai. There is also a potential for synergy effects between Simplifai and companies in the Finstart Nordic portfolio,”

Glenn Sæther, Vice President for Technology, Development and Business Processes at SpareBank 1 SR-Bank.

Sparebank 1 SR-Bank is Norway’s second largest bank measured by total assets (2020 numbers). The bank has more than 350,000 individuals and companies as customers, and a presence with 34 branches from Bergen in the west to Oslo in the east. The bank is headquartered in Stavanger and has more than 1500 employees.