BusinessNext launches Service AI Agents to drive autonomous banking and reduce costs

Service AI Agents automate daily tasks, assist service teams, and enable self-service for customers
| Photo Credit:
Istoma

BusinessNext has launched Service AI agents to meet the push for AI-first autonomous banking. Citing its research, BusinessNext said 63 per cent of senior bankers in India plan to implement AI agents by 2025. Similarly, it cited Deloitte’s report, which said 80 per cent of Indian organisations are exploring the development of autonomous agents.

These agents will deliver Zero-ops banking services for many service request types, potentially reducing costs by nearly one-third and decreasing financial fraud by 40 per cent. PwC predicted in a report that the banking industry will save $1 trillion by 2030 due to the implementation of AI, primarily because of branch closures, said BusinessNext.

AI efficiency

Service AI Agents automate daily tasks, assist service teams, and enable self-service for customers, resolving queries, requests, and complaints with up to 80 per cent-time savings.

Similarly, the Fraud Prevention AI Agent, powered by AgentNext studio of the company, will provide real-time security support to mitigate risks. The AI agent identifies suspicious transactions and notifies customers or bank representatives.

Citing an RBI Annual report, BusinessNext said financial transaction fraud in India surged to 166 per cent in FY24 to over 36,000 cases.

Sushil Tyagi, Executive Director at BusinessNext, said, “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 personalised support, proactive issue resolution, and contextual assistance.”

Published on April 30, 2025