Embracing AI 2.0: How Banks Can Lead the Next Generation of Customer Experience with Agentic AI
As consumer behavior fundamentally shifts toward AI-powered interactions, banking customers who experience instant, conversational assistance across digital platforms naturally expect the same sophisticated interaction from their financial institutions. This evolution presents an opportunity for banks to move beyond traditional customer service chatbots currently supported by AI and embrace AI 2.0: actionable, agentic systems that execute real tasks within institutional frameworks and compliance guardrails.
The Consumer AI Revolution Creates Banking Expectations
The numbers tell a compelling story. Bain & Company reports that 68% of users now rely on AI platforms for research and information gathering, while a Capgemini survey shows that nearly six in ten consumers now prefer AI tools over traditional search engines for product and service recommendations. This shift extends beyond simple search functionality – 83% of frequent AI users find search tools more efficient than traditional search engines, primarily because they provide faster, summarized responses in natural language.
The impact of this behavioral change is already visible in the broader digital landscape. Google's global market share dropped below 90% for the first time in a decade in late 2024, coinciding with the rise of AI-driven tools like ChatGPT. Younger demographics are leading this transformation, with Gen Z driving AI adoption for research and guidance while millennials increasingly rely on AI for quick, clear insights.
These consumer behavior shifts directly translate to banking expectations. Customers who rely on AI assistants for shopping research and information gathering naturally expect the same level of intelligent interaction from their financial institutions. The challenge for banks is delivering this sophistication while maintaining the security and compliance that defines our industry.
Moving Beyond Traditional Chatbots to Agentic AI
Traditional banking chatbots have served as customer service support tools that provide information and answer basic questions. However, the next generation of banking AI represents something entirely different, but complementary. Agentic AI leverages advanced technology to take action directed by account holders within each institution's operational framework and compliance guardrails, moving beyond reactive customer service to proactive, transactional capabilities.
This approach transforms how customers interact with their financial institutions. Instead of navigating menus or providing specific commands, agentic AI understands context and intent, delivering personalized guidance while adhering to each bank's specific rules and compliance requirements.
Practical Applications Across Banking Services
The practical applications of agentic AI in banking span both simple transactions and complex financial management. For everyday banking needs, customers can say "Move $500 from checking to savings" or request "Set up automatic payments for my utilities" to trigger complete bill pay setup with scheduling, all through natural conversation.
Beyond basic transactions, agentic AI serves as a comprehensive financial wellness tool. When customers want to identify redundant subscriptions, the system not only identifies them but offers recommendations about which subscriptions to consider eliminating and calculates potential cost savings. The customer can then provide direction on actions to take.
For fraud prevention, the technology enables customers to request recent transaction reviews, with the AI assistant identifying potentially fraudulent activity and offering to immediately disable cards while investigation teams take action.
Business banking applications are equally transformative. Finance managers can request comprehensive financial health analyses through queries like "Show me our cash flow for the quarter and highlight any concerning patterns." The system provides intelligent recommendations and suggests relevant products to better support business customers. Large enterprises benefit from quick account access management, permission settings, and removal of former employees from accounts, all executable outside traditional banking hours.
Leading the Future of Banking Experience
Financial institutions that embrace agentic AI position themselves at the forefront of the modern customer experience. Banking customers increasingly expect the same level of intelligent, conversational interaction they experience with consumer AI tools, and we have the opportunity to meet and exceed those expectations.
This technology transforms fragmented banking experiences into unified financial management through natural conversation, operating as a 24/7 personal relationship banker across numerous use cases. The result is enhanced customer satisfaction, increased engagement, and new opportunities for product adoption and revenue generation.
My conviction is that banks successfully implementing agentic AI will deliver the conversational sophistication customers experience on leading consumer AI platforms while maintaining the security, compliance, and operational excellence that defines successful banking operations. This combination positions forward-thinking institutions to lead the next generation of customer experience in financial services – and that future is within reach for institutions ready to embrace it.
About Author:
Pedro Azevedo is Chief Product Officer at ebankIT, a global digital banking platform provider. The company recently debuted its revolutionary agentic AI conversational banking assistant, representing AI 2.0 for banking, and moving beyond traditional customer service chatbots to deliver actionable, humanized, and conversational financial support and guidance that executes real tasks. For more information, visit www.ebankit.com.