“Agentic RAG” Redefines the Role of Call Centers in Protecting Bank Customers
Financial crimes, particularly fraud, are on an unprecedented rise globally. This is pushing banks and financial institutions to seek smarter solutions to protect their customers’ money and data.
This is where “Agentic Retrieval-Augmented Generation” or “Agentic RAG” emerges as a promising technological innovation that expands the capabilities of AI in fraud detection and regulatory compliance through call center systems.
Agentic RAG technology relies on the use of AI agents capable of retrieving, analyzing, and generating results based on data from multiple sources, whether structured or unstructured.
These agents can simultaneously handle databases, online search results, and email content to form a comprehensive picture that supports decision-making.
According to Ciklum, this technology is distinguished by three key characteristics:
- Instant Data Integration: It combines pre-stored knowledge with new data in real time, allowing for more accurate and contextual insights.
- Adaptive Learning: Its knowledge base is automatically updated without the need to retrain models.
- Transparency: It identifies the sources its results are based on, making verification easier.
These capabilities are particularly important given recent reports that 60% of financial institutions have experienced an increase in fraud attacks, with global losses exceeding $190 billion in 2023.
A study by Mastercard also showed that 91% of customers who experience fraud switch to a different bank, and 86% share their negative experiences with others, which negatively impacts the institutions’ reputation.
Agentic RAG opens the door to improving the accuracy and speed of fraud detection and supporting regulatory compliance in a highly regulated banking environment.
However, experts recommend adopting a gradual and deliberate approach when implementing it, with the help of specialized experts to ensure maximum benefit.
