AI agents could transform banking, but risks remain, say industry experts

As banks explore more use of artificial intelligence (AI) to automate decisions and simplify customer journeys, industry leaders stress the need for stronger security controls, accountability and human oversight to protect customers from potential risks. Speaking at the Business Standard BFSI Summit in Mumbai, banking executives said AI agents could transform how banks operate, but their growing independence would require institutions to rethink how they authenticate users, monitor transactions and manage risk. During the session Autonomous Banking & Security, moderated by Business Standard's Shivani Shinde, HDFC Bank's Group Head of Information Technology and Chief Information Officer Ramesh Lakshminarayanan said agentic banking was here to stay and banks needed to prepare for the shift rather than resist it.