New Delhi, May 05 ‘25: As Indian financial institutions face rising customer expectations, the push for AI-first, autonomous banking is accelerating.
According to the company’s research, 63% of senior bankers in India plan to implement AI agents by 2025, aligning with broader trends like Deloitte’s report, which states that 80% of Indian organizations are exploring the development of autonomous agents, indicating a substantial shift towards Agentic AI.
Therefore, as a step towards enabling autonomous banking, BUSINESSNEXT has launched Service AI agents.
With the potential to reduce costs by nearly one-third and decrease financial fraud by 40%, these advanced, verticalized AI Agents are designed to deliver Zero-ops banking services for many service request types. According to a PwC report, by 2030, it is predicted that the banking industry will save USD 1 trillion thanks to the implementation of AI, primarily because of branch closures.
Service AI Agents use Agentic AI to automate daily tasks, assist service teams, and enable self-service for customers—resolving queries, requests, and complaints quickly, accurately, and with up to 80%-time savings.
For instance, when a customer requests a credit card block or enquires about a loan, the Service AI Agent seamlessly verifies the account, resolves the request, and simultaneously updates the system. Additionally, if required, a lead is generated in the system for further action, ensuring smooth service. By automating these processes without human intervention, AI agents significantly reduce turnaround time, enhancing efficiency and customer satisfaction.
Similarly, as the financial transaction fraud in India surged to 166% in FY24 to over 36,000 cases (according to RBI annual report), the Fraud Prevention AI Agent, powered by AGENTNEXT studio of the company, will provide real-time security support to mitigate risks. Using specialized generative AI LLMs for banking and financial services, the AI agent identifies suspicious transactions and notifies customers or bank representatives. Thus, boosting the efficiency of fraud management by effective identification and documentation while minimizing financial liabilities. Moreover, it augments existing fraud prevention frameworks by using predictive and generative AI to strengthen fraud management.
With fraud costing businesses approximately 5% of annual revenue, according to The Association of Certified Fraud Examiners, the need for intelligent, proactive fraud detection is more critical than ever. These AI agents use predictive and generative AI to analyze large volumes of data in real time and identify risk patterns, helping banks act before fraud occurs.
Sushil Tyagi, Executive Director at BUSINESSNEXT, stated, “Transferring some cognitive load from people to robots has become a priority today. As financial institutions experiment with AI technology, these AI agents have proven to be highly effective in helping bankers provide convenience for customers. These agents deliver real-time guidance, knowledge recommendations, case management, and automated documentation across multiple channels while offering 24/7 personalized support, proactive issue resolution, and contextual assistance.”
