When the "agent bank" develops

A revolution is underway with regard to the integration of AI Agentique into online shopping experiences, automating the process until taking over payment instead of consumers. But this technology is also becoming more widely available in the financial services market, presenting a new form of "agent bank" service carried today by the British FinTech Griffin.

FACTS

• Griffin, a UK-based FinTech BaaS, has just announced the opening of its MCP server (for Model Context Protocol) dedicated to AI banking agent.

• The latter proposes to create agentic applications specifically for the banking sector. It would give birth to the AI banking agent or the "agent bank".

• More concretely, it would be based on the fact that virtual agents would be responsible for operating banking, account management, and even conducting transactions in an automated way through the use of artificial intelligence technologies. Directly on behalf of account holders according to pre-established specific habits and rules.

• Among the transactions cited are:
  • opening of accounts,
  • verification of transactions,
  • the execution of payment transactions,
  • managing an investment portfolio.

• Griffin's MCP server is currently available in beta version for simple experimentation, with FinTech considering that its model is currently at the beginning of its construction.

ISSUES

• Proposing a revolution : Griffin's model of banking agent today defends its pioneering status on the theme by carrying the promise of autonomous banking and delegated financial management to the maximum.

• Pushing the limits of a concept : Griffin presents itself as a BaaS FinTech whose basic concept is to enrich banking services through APIs. But it pushes even further the limits of the evolution of services today by going beyond the model of pure enrichment of these services to rely on that of an automated banking service concept, discharging users from all constraints to put financial management in the hands of specialised AI.

PERSPECTIVE

• The "agent bank" is therefore only in its infancy, but it follows the main principles of the AI agentics already deployed in another sector of activity to date, that of e-commerce.

• Web giants and payment actors compete for technology by presenting their models and vision in turn. This is particularly the case for Visa, MasterCard (in partnership with Microsoft) or PayPal with Perplexity, but also more recently Google who wants to upset online shopping rules.

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