Latest news with #BUSINESSNEXT
Entrepreneur
04-07-2025
- Business
- Entrepreneur
BUSINESSNEXT Unveils GenAI and Agentic AI Solutions to Transform Lending for Banks and NBFCs
The virtual assistants can evaluate loan eligibility, perform fraud checks, automate document verification, and offer personalised financial advice, thereby significantly reducing delays and errors in the loan lifecycle. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. BUSINESSNEXT, a leading digital transformation platform, has launched advanced GenAI and Agentic AI assistants tailored for the lending sector. Aimed at revolutionising loan processing for banks and Non-Banking Financial Companies (NBFCs), the new solutions promise to accelerate approvals, enhance risk management, and improve borrower experience. With financial institutions facing increasing volumes of loan applications and tightening compliance norms, the AI-powered assistants are designed to support key departments—including sales, operations, credit, and customer service—by automating repetitive tasks and delivering real-time insights. The virtual assistants can evaluate loan eligibility, perform fraud checks, automate document verification, and offer personalised financial advice, thereby significantly reducing delays and errors in the loan lifecycle. For instance, the Virtual Customer Agent guides borrowers through applications by analysing financial data, while the KYC/KYB Agent speeds up onboarding by instantly verifying customer and business credentials. "Loan processing can be time-consuming and complex, but AI-driven assistants help streamline these tasks," said Rahul Sheth, Vice President, Sales and Marketing at BUSINESSNEXT. "By automating application handling, risk assessment, and compliance checks, banks and NBFCs can process loans faster, reduce costs, and offer a better experience to customers." Further strengthening risk management, the Banking Fraud Detection/Prevention Agent proactively identifies anomalies to prevent fraudulent activities, while the Balance Sheet Analyser helps credit teams instantly assess financial health, improving the accuracy of lending decisions. The global digital lending market is forecasted to reach USD 20.5 billion by 2030, growing at a CAGR of 14.6%, highlighting the demand for scalable and intelligent lending solutions. BUSINESSNEXT's solutions stand out due to their deep BFSI-specific training, dynamic architecture, and empathy-trained response capabilities. They can cut operational costs by up to 80% and seamlessly integrate into existing lending workflows. "By integrating GenAI and Agentic AI into lending ecosystems, banks and NBFCs can reduce loan processing time, enhance credit evaluation accuracy, and improve borrower experiences, making lending more efficient, secure, and customer-centric," Sheth added. With this innovation, BUSINESSNEXT aims to redefine digital lending, helping financial institutions remain competitive in a fast-evolving landscape.
Time of India
05-05-2025
- Business
- Time of India
Deeptech startup BUSINESSNEXT launches Service AI Agents
BUSINESSNEXT has launched Service AI agents . According to the company, these AI agents offer 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. Tired of too many ads? go ad free now 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. With fraud costing businesses approximately 5% of annual revenue, according to The Association of Certified Fraud Examiners[2], 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, said, '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. Tired of too many ads? go ad free now 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.'
Yahoo
03-03-2025
- Business
- Yahoo
BUSINESSNEXT unveils new AI-driven retail banking platform
BUSINESSNEXT has unveiled an AI-based retail banking platform, dubbed Retail Banking Customer 360. The platform is intended to deliver deep insights and enable rapid, autonomous actions to enhance the customer experience and drive revenue growth. The latest offering is a triple-layer AI-powered platform that integrates Predictive AI, Generative AI, and Autonomous AI agents. It aims to augment customer intelligence and engagement across various touchpoints. The Predictive AI Engine of the platform is capable of analysing over two hundred data points from diverse systems such as customer relationship management (CRM), core banking, and social media. It provides engagement scores, proactive insights, alerts, offers, and recommendations for the next best action within seconds. In parallel, the Generative AI Assistant generates comprehensive customer profiles, synthesises interaction histories, and recommends personalised engagement strategies. This feature ensures that customer service is tailored to individual needs and preferences, enhancing satisfaction and loyalty. Furthermore, the platform's Autonomous AI Agents are designed to streamline banking operations. They automate processes such as offer creation, customer communication, and actions that are aligned with customer interactions, life events, and financial goals. BUSINESSNEXT technology and architecture head Abhishek Arun said: 'The advanced industry specific 'Customer 360' provides a unified data platform – entailing consolidated data on employee, customers and the branch. 'By integrating Predictive AI, Generative AI, and Autonomous AI Agents, it delivers AI-first customer engagement capabilities with the potential to completely transform retail banking at a larger scale, thus enabling autonomous banking future.' With over one million users across banking, insurance, and financial services, BUSINESSNEXT manages over one billion end customers. In November 2024, BUSINESSNEXT introduces AGENTNEXT, an AI agent platform designed to advance banking and insurance industries. These AI assistants autonomously manage 60-70% of tasks, seamlessly integrating human expertise when necessary. "BUSINESSNEXT unveils new AI-driven retail banking platform" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
