Collector Bank’s chatbot ‘Penny’ performs so well customers don’t want to change

With over 4 000 000 clients and a strategic focus on high performing customer service, the unexpected success of Penny compliments the strengths of Collector Bank.


Collector Bank, listed on Nasdaq Stockholm, is a modern Nordic niche bank specialising in financing solutions for corporates and private individuals. It has a customer service that handles over 55,000 monthly interactions and achieves top ranking in their segment for customer satisfaction. It was imperative for them as a company to find a digital solution that enhanced this expertise and strength. The partnership with Front AI gave birth to Penny and their journey to customer service automation began.


Focusing on financing solutions for corporate and private individuals, particularly in the SME sector, it would be natural to assume that a chatbot could only go so far in supporting Collector Bank’s specialist area of expertise. However, the company was not only impressed by how much Penny could support the customer service team during peak demand but also how satisfied existing customers were with the solution.


Even as an option was introduced for pre-authenticated customers to switch to a human agent, customers were so satisfied with Penny’s service that only 10% needed to change. The success has given Collector Bank the opportunity to scale and realise new potential.


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