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DNB, Norway’s biggest bank, plans to cut around 400 jobs in its technology teams. On the official website of the bank, it has stated that the layoffs are directed to “deliver better customer experiences, increase efficiency and meet customers’ future needs.” Reportedly, the cuts have come as the bank has adopted a number of AI agents across its operations to replace tasks that were previously handled manually.
For multiple tasks, the bank is already using AI agents for coding, technology work and Know Your Customer (KYC) tasks. The job cuts are expected to take place in the fourth quarter and finish by the end of 2026.
The bank says AI is changing how its teams work. DNB CEO Kjerstin Braathen said, “AI is changing the way we work and how we deliver services to our customers. We are already seeing considerable gains, and are therefore adapting our organisation to a new reality.”
He further continued, “At the same time, we know that this restructuring will affect employees who have made a strong contribution to DNB for many years. This is why it is important for us to carry out an orderly and responsible process, and take care of the employees affected in the best possible way.”
The bank also says it wants to handle the cuts in a responsible way and help workers affected by the change. DNB’s shares rose about 1% after the news. The move also comes as other banks and financial firms make changes to their staff while putting more money into AI.
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DNB says AI agents are already being used in KYC work. Banks have to check customer details and documents before offering many services. A large part of this work can be routine.
AI could handle simple checks, sort information, and flag cases that need a closer look. This does not mean every KYC job can be handed to AI. Some cases still need people to review the details and make the final call.
DNB’s plan to cut 400 jobs shows how AI is changing banking work. The next step may be a clearer split, with AI handling simple tasks while people focus on cases that need care and judgment.
