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Nordea Bank to deploy AI to improve customer response time

Nordea Bank has partnered with Feelingstream, an Estonian startup in order to reduce response time for queries from its customers.

The bank will deploy a software developed by the startup, which uses artificial intelligence (AI). The AI-powered software has the capability to automatically analyse text from hundreds of customers’ queries per second. This, according to the bank can open up a broad range of applications.

Nordeal plans to introduce Feelingstream’s solution initially in Finland and later release it in the other Nordic countries. 

Nordea Remote Service & Advice Finland head Sari Tempakka said: “We are constantly improving the availability of our services to allow customers to access the solutions they need as smoothly as possible. Nordea is the only bank in Finland to offer banking services around the clock, every day of the year.”  

She said: “Using artificial intelligence is a natural next step in improving our customer service. The introduction of Feelingstream’s application will allow us to respond to our customers’ queries faster than before, which will generate positive experiences.”

The bank claims that its partnership wtih Feelingstream follows a pilot that was run last year with the startup. The pilot showed the AI’s potential in improving the quality of its customer service. It claims that the application is very flexible and the first step will be to identify its potential uses.

To improve customer service by offering new, relevant and valuable solutions,  Nordea is also partnering with fintech hubs in Stockholm, Helsinki, Copenhagen and Oslo. 

Feelingstream founder Terje Ennomäe said: “We are really excited about this cooperation, and we have high expectations. We want to help Nordea and its customers, hopefully in every Nordic country eventually.” 

Image: Mervi Sepp (Feelingstream), Anna Metsäranta (Nordea Digital Banking) and Terje Ennomäe (Feelingstream). Photo: Courtesy of Nordea.