A new strategy for process automation in banking: Intelligent Agents and AI agents

June 6, 2024

The banking industry faces significant challenges as customer expectations evolve, technology advances rapidly, and competition from fintech and tech giants intensifies. Banks must deliver personalized, seamless, secure customer experiences across all channels while improving efficiency and cutting costs. Goal-seeking agents are the answer to this need, leveraging intelligence to help banks adapt and deliver tailored experiences at scale.

Exploring the Core Capabilities of Intelligent Agents in Banking Automation

Intelligent agents, as goal-oriented systems, interact with their environment through sensing, processing, and action. Agentic workflows are iterative loops that pursue goals through data analysis, planning, taking action (using tools for subtasks as needed), and reflection (checking progress and learning from feedback). LLM agents can use tools to search, simulate, communicate, or coordinate. For example, they can leverage databases, online sources, and APIs to automate marketing processes. Intelligent agents learn from past results by identifying gaps between expectations and reality, providing feedback that guides future iterations. They simplify complex tasks by breaking them into manageable subtasks and setting intermediate goals. This multi-step planning allows workflow optimization, ensuring a smooth customer experience. In multi-agent systems, multiple specialized agents collaborate, share tasks, and provide feedback to solve complex problems. 

Applications of Agentic Workflows in the Finance Sector

Intelligent agents are transforming marketing and sales through advanced data analytics and machine learning. They automate the generation of marketing copy, boost ROI through data-driven personalization, and streamline the planning and execution of marketing events and webinars. They analyze customer interactions to recommend targeted products and increase sales, monitor social media sentiment to gain customer insights and manage appointments with automated reminders to enhance engagement. Intelligent agents also streamline complex operations and automate routine tasks, such as customer service, fraud detection, data management and interpretation, OCR document processing, and troubleshooting. By automating these tasks, agents allow staff to focus on high-value activities requiring human skills. 

Utilizing AI Agents for Advanced Customer Analysis and Market Segmentation

AI agents can collect and examine internal or publicly accessible data to pinpoint potential customers and understand their needs, preferences, and behaviors. This data, sourced from various channels, enables businesses to focus on the most promising leads.

AI agents can segment customers into clusters using unsupervised algorithms based on characteristics like industry, size, location, growth rate, and technology stack. They help tailor each cluster’s offerings, messaging, and pricing, increasing conversion and satisfaction. Integrating intelligent agents into bank marketing workflows involves paying attention to quality data, financial expertise, scalability, and compliance while maintaining human control.

Ensuring accurate and updated data is necessary to reflect changing customer profiles and market conditions. AI-derived customer clusters should be validated against financial industry expertise, and AI models should be refined based on expert feedback and real-world results. Personalization should be balanced with scalability by creating modular, customizable offerings for each customer cluster.

Information Strategies: Engaging Distinct Customer Clusters

AI can create targeted content for distinct customer clusters, providing valuable insights, best practices, and decision-making aids, which builds trust and gathers data to understand each cluster’s needs better. AI agents adapt communication channels to each segment, including ad campaigns, social media engagement, personalized outreach, lead scoring, custom content, tools and templates, email newsletters, and adaptive surveys. AI optimizes communication by analyzing preferences, data enrichment, and lead scoring. Techniques such as sentiment analysis and human insights refine AI models. 

At the same time, experimentation improves engagement and conversion, which ensures personalized content and communication for each customer, enhancing engagement and effectiveness.

Strategic Timing of Engagements: Using AI to Capitalize on Behavioral Triggers

AI-powered agents monitor data and customer interactions to identify critical moments for effective personalized outreach. They predict optimal engagement times, tailoring content and timing by analyzing behavior patterns and market trends. Agents can launch outreach actions based on triggers like customer interactions, behavioral analysis, and CRM data. They coordinate appropriate responses across channels when a trigger is detected, initiating targeted mini-campaigns and alerting the sales team for timely outreach. Agents track customer behavior, prioritize triggers indicating purchase intent, set and enforce frequency caps for outreach, and constantly monitor and adapt campaign performance through customer feedback and engagement metrics. This approach enhances engagement, conversions, and loyalty by delivering personalized, timely outreach.

Optimizing Engagement Through Continuous AI-Driven Testing

Intelligent agents launch small-scale experiments to test all campaign elements, such as messaging, targeting, timing, and creativity, to identify the best-performing combinations. This process ensures efficient, data-driven campaign optimization. AI agents analyze data to form hypotheses, set up control and treatment groups, segment audiences, create campaign variations with generative AI, monitor performance, and refine campaigns based on results. Human oversight ensures alignment with brand strategy, customer needs, and regulations, which is a balance that allows continuous experimentation while maintaining a customer-centric, responsible approach.

Synthesizing AI Advancements for Future Banking Success

AI-driven segmentation, information offerings, opportunistic agents, and continual experimentation create an effective customer acquisition engine. AI optimizes marketing with real-time adjustments, nurtures prospects, builds trust, collects data, and identifies critical outreach moments, enhancing lead generation, conversion rates, and customer lifetime value for a competitive edge.

At Globant, we focus on providing a comprehensive platform for AI assistants to integrate with business systems through Genexus Enterprise AI, implementing AI-Assistants tailored to your industry’s specific needs and areas of expertise. 

Trending Topics
Data & AI
Globant Experience
Healthcare & Life Sciences
Media & Entertainment

Subscribe to our newsletter

Receive the latests news, curated posts and highlights from us. We’ll never spam, we promise.

More From

The Finance Studio provides in-depth expertise in the financial sector to help businesses reinvent themselves. We design customized transformational programs tailored to our client’s needs that boost new business models and strategies while enhancing their customers' experience.