Brightware Inc. has formed a subsidiary in London to expand European sales.
The company sells artificial intelligence software for automating customer service functions. In one application of the BrightAdvisor products, financial institutions' computers guide customers through the process of obtaining a loan.
The U.K. subsidiary, Brightware Ltd., will focus on European mortgage providers. Swiss Bank currently uses Brightware to assess risk in its mortgage and hedging departments.
"We are still young, but by June of next year we expect that 15% to 20% of our revenues" will come from the European market, said Mike Wheatley, managing director of Brightware Ltd.