TLDR: Banks and insurers are rapidly integrating AI agents to enhance customer-facing processes like fraud detection and application processing. A Capgemini report highlights significant adoption, with firms developing proprietary AI and creating new human roles to oversee these intelligent systems, anticipating substantial economic value by 2028.
Financial institutions are undergoing a significant transformation, with banks and insurers increasingly deploying AI agents to streamline operations and combat fraud. A recent report from the Capgemini Research Institute, ‘World Cloud Report in Financial Services 2026,’ reveals a rapid shift in how these sectors interact with customers and manage critical processes.
According to the report, a substantial portion of financial firms are actively developing their own AI agents, with 33% of banks engaged in in-house development, though only 10% have achieved large-scale deployment. The primary drivers for this adoption include enhancing customer onboarding, cited by three in five institutions.
For banks, the top processes leveraging cloud-native AI agents at scale include customer service (75%), fraud detection (64%), loan processing (61%), and customer onboarding (59%). Insurers show a similar pattern, with customer service (70%) leading, followed by underwriting (68%), claims processing (65%), and onboarding (59%). These deployments are fundamentally redefining the customer experience in financial services.
AI agents are projected to generate up to $450 billion in economic value by 2028 for the financial services industry. To capitalize on this potential, 48% of financial institutions are establishing new roles dedicated to supervising these AI agents, indicating a collaborative future between human expertise and artificial intelligence.
The role of cloud technology is also evolving beyond mere infrastructure. Nearly two-thirds of executives (61%) now consider cloud-based orchestration vital to their AI strategies, positioning cloud platforms as engines for rapid technological innovation and scalability. Ravi Khokhar, Global Head of Cloud for Financial Services at Capgemini, emphasized this synergy, stating, “The combination of AI and cloud allows banks and insurers to tap the power of AI agents to better serve their customers with greater precision, speed and impact.”
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Beyond core processes, AI agents are expected to facilitate expansion into new geographies, with 92% of firms believing they can achieve this without heavy upfront infrastructure investments. Additionally, 79% foresee opportunities for dynamic pricing and personalized offers, while 75% anticipate improved multilingual support adaptable to local regulations and cultural nuances.
