Major Australian Banks Develop AI Agents to Enhance Business Banking
Australian Financial Review
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Details
- Date Published
- 11 Sept 2025
- Priority Score
- 2
- Australian
- Yes
- Created
- 13 Sept 2025, 04:57 pm
Description
Business banking is emerging as a key battleground in the race among the big four to build artificial intelligence tools to drive efficiency gains.
Summary
In the competitive landscape of business banking, Australian major banks like CBA and NAB are developing AI-powered agents to automate tasks traditionally performed by human bankers. These initiatives aim to improve efficiency and customer interaction through technologies such as virtual relationship managers. While the deployment of AI agents promises significant operational gains, it raises concerns about employment impacts and the need for regulatory oversight. This advancement highlights the interplay between technological innovation and financial sector dynamics, with significant implications for AI governance and workforce policies in Australia.
Body
CompaniesFinancial ServicesAIPrint articleJames EyersSenior ReporterSep 13, 2025 – 5.00amSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginMajor lenders are building artificial intelligence-powered “agents” – software that can do the same work as humans – in their business banking divisions, as the battle for AI supremacy in financial services intensifies despite workforce concerns about the risk to jobs.Commonwealth Bank of Australia is building what it describes as “virtual relationship managers” in its business bank. The customer-facing technology is in a pilot stage as the bank discusses the timing of a market rollout with regulators.Loading...James Eyerswrites on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years.EmailJamesatjeyers@afr.com.auSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreFetching latest articlesDion Lee lost his business. He’s backLauren SamsThe one dish worth $1.4m a year to this iconic Sydney restaurantThe CEO who found her mojo when she demoted herselfWhy this CEO left private equity to run a beauty retailerHannah TattersallHow this top lawyer made partner at 29Why PwC’s CEO spends every Sunday on AI ‘homework’Why chefs are big business for watch brandsLuke BenedictusTAG Heuer takes the lead as marathon running boomsTechnical mastery is what makes Jaeger-LeCoultre watches tickInside the private group with more revenue than Hancock ProspectingPrimrose RiordanA billionaire chippy’s A-list campaign to rebuild a surf clubLawsuit alleges 16-hour days, bullying at MCo Beauty dupes empire