Oracle Financial Services has announced its plan to optimise banking with an enterprise-class suite of AI-infused applications, design tools, frameworks, and pre-built AI agents.
Following this announcement, the capabilities are expected to give banks the possibility to benefit from intelligent, conversational interfaces and autonomous AI agents. By combining domain specific AI, human-in-the-loop governance, and scalability, the company aims to also enable financial institutions to drive proactive, hyper-personalised engagement, while developing responsibly and competitively as well.
In addition, these capabilities are expected to allow financial institutions to better understand and anticipate customers’ evolving needs, as well as deliver hyper-personalised services whether the user is banking online, using a mobile device, or in a physical branch.
Optimising customer experiences and operational efficiency
According to the official press release, Oracle’s agentic platform will offer financial institutions the essential tools for building improved banking experiences. The platform embeds AI services and decisioning at the core of every customer engagement and business process, and, with its agentic ecosystem, the platform’s AI agents will have the possibility to orchestrate secure, real-time, and highly tailored interactions supported by human expertise. This approach is set to enable bankers to play a pivotal `human-in-the-loop` role, aiming to focus on supporting oversight and ethical governance.
The new experience and domain agents for retail banking collaboratively are expected to also drive automation and better service across the entire originations’ lifecycle. Included in the list are:
- The Product Brochure Generation agent and Smart Assist for Application Insights agent, which were developed in order to enable consistent product information and allow bankers with real time, more accurate answers to speed application completion.
- The Application Tracker agent, which focuses on delivering proactive management by predicting delays and recommending next steps, aiming to enable a smooth handoff to underwriting staff while keeping the lead banker informed on the status of application approval as well.
- The Qualitative Analysis & Credit Decisioning agent, which leverages streamlined data and intelligently suggests responses for complex scorecards. This process aims to result in faster and more consistent credit decisions.
Furthermore, experience agents in other retail domains, such as collections, are expected to directly assist the banker by automating crucial tasks to boost efficiency and compliance. At the same time, they will also support a faster, lower-risk, and more professional collection environment for both bankers and customers. This will include:
- The Collector Call Summarization agent, which will generate call notes from transcripts, dramatically reducing AHT (after handle time) increasing efficiency and allowing more time for bankers to engage in more impactful customer interactions.
- The Call Compliance Check agent, which was developed in order to analyse call tone and sentiment for regulatory adherence (like the Fair Debt Collection Practices Act), as well as providing bankers instant feedback on compliance scores.
These agents represent a couple of the retail and corporate banking agents Oracle Financial Services plans to make available within the next 12 months.
