National Bank of Greece invests €1.3 billion in AI and digital transformation

National Bank of Greece CEO Pavlos Mylonas has detailed the institution's extensive technological transformation, noting an investment of €1.3 billion in technology over the last five years. The strategy focuses on moving from digital transformation to a new banking model where artificial intelligence is central to operations.

Key achievements of this overhaul include the creation of new mobile and internet banking platforms from the ground up, the consolidation of thousands of data marts into a single cloud-based environment, and a major core banking IT transformation. The bank currently reports 4.6 million registered users, with over 3.3 million active digital users.

A centerpiece of the AI strategy is ‘Sofia’, a customer-facing AI agent. Initially utilized as a voice AI in the contact center, the bank aims to evolve Sofia into an orchestrating AI agent across all customer touchpoints. To support these advancements, the bank has established an AI Hub with over 100 dedicated staff members and has trained more than 4,000 employees in various levels of artificial intelligence expertise.