Nordic Banks Among Strise’s Early Customers
The Oslo-based company, Strise, has raised new funding to support its international expansion plans. Strise uses AI technology to automate manual compliance and risk processes in the banking sector. Its early customers include Nordic banks such as Nordea, Handelsbanken, and Vipps MobilePay. Additionally, US law firm Orrick and EY’s UK business have also adopted Strise’s solution.
Achieving Time and Cost Savings with Strise
Strise’s users have reported significant benefits from implementing their solution. They have experienced a 90% reduction in the time spent on due diligence and a 30% reduction in costs associated with Anti-Money Laundering (AML) processes. This demonstrates the effectiveness of Strise’s automation in improving efficiency and reducing operational expenses.
The Importance of AI in the Banking Sector
Marit Rødevand, CEO and co-founder of Strise, emphasized the importance of adapting to AI in the banking sector. As crime and regulations become more complex, traditional methods are no longer sufficient. Without automation, fighting financial crime becomes costly and inefficient. Strise aims to lead the way in this change by enabling AML and compliance teams to work faster, detect crime more accurately, and stay compliant, thereby protecting their reputation.
New Funding Led by Atomico
Strise’s latest funding round was led by Atomico, a prominent European venture capital firm. The round also included investments from angel investors, including Camilla Giesecke (COO of Klarna), Phil Chambers (founder of Peakon), Allison Pickens (former COO of Gainsight), Riya Grover (CEO and co-founder of Sequence), Francois Callens (former CFO of Depop), and Marcus Krylborn (growth at Snap). The funding will enable Strise to expand its operations across European markets, with the UK being the initial focus of their international expansion.
