Oracle launches agentic platform for retail banking
Oracle Corporation (ORCL) announced on Tuesday a new agentic platform for retail banking that will be launched through its Oracle Financial Services unit.
The platform will include an enterprise-class suite of AI-infused applications, design tools, frameworks and pre-built AI agents which will allow banks to deliver "hyper-personalized service" to customers, whether they are banking online, on a mobile device or in a physical branch.
The company unveiled the new agentic platform at the Oracle Financial Services Summit in New York City.
The platform's AI agents will be able to perform seamless and highly tailored interactions in real-time that will be supported by "human expertise," according to Oracle. The company describes it as bankers playing a "human-in-the-loop" role in which they will be supporting oversight and ethical governance for the AI agents.
Oracle added that the platform will give financial institutions "the essential tenets for building a truly intelligent, next-generation bank."
"Oracle is ushering in a new era of banking where AI moves beyond task automation to deliver real business intelligence, agility, and trust at scale," Sovan Shatpathy, senior vice president of product management and development for Oracle Financial Services, said in a statement. "Our agentic platform is not just a set of applications, it's a foundational architecture for building truly intelligent banks.”
The company recently released a brief outlining what it calls an "AI-first Intelligent Bank," which includes an agentic ecosystem that infuses AI into every layer of the banking business.
With its agentic platform, bankers will have access to real-time updates on product information that is meant to speed up the application process for customers. The AI agents can also predict delays and recommend next steps during loan applications, "enabling a smooth handoff to underwriting staff."
Oracle Financial Services indicated that it plans to introduce hundreds of AI agents for both retail and corporate banking over the next 12 months.
The release of the new agentic platform comes amid growing pressure for banks to ramp up their innovation to service a new generation of customers.
McKinsey & Co. released a report in November detailing how incumbent banks are falling behind fintechs in adopting AI into their services. The firm noted that while fintechs accounted for just 40% of its dataset, they accounted for nearly 70% of the AI initiatives.
"Banks, in contrast, face greater regulatory complexity, fragmented technology stacks, and organizational inertia," McKinsey said. "While fintechs have rapidly operationalized AI in analytics, trading, and portfolio management, many banks remain stuck in pilot mode, testing promising concepts but struggling to move them into production."
The firm anticipates that the "most transformative potential" for the technology in banking will be with agentic AI and revenue-driving use cases, "where fintechs dominate," it added.
According to McKinsey, legacy banks mainly use AI to "improve reliability and trust," while "an AI-powered global mobile trading platform used by fintechs enables real-time, algorithmic decision-making, improving trading outcomes."
Oracle's new platform could help bridge that gap in innovation between traditional banks and fintechs.
"By combining domain specific AI, human-in-the-loop governance, and enterprise grade scalability, we're enabling banks to drive proactive, hyper-personalized engagement while innovating responsibly and competitively," Shatpathy said.