Bud Financial releases agentic AI for banking

AI-powered financial data platform Bud Financial has launched an agentic AI which is able to carry out tasks on behalf of customers such as moving money between accounts to avoid unnecessary overdrafts.

Unlike AI agents which simply respond to prompts, an agentic model can perform numerous tasks and learn from its experiences – in this case, it will take information about the customer such as their financial history and position, to help improve their finances.

Bud said that it will embed the consumer-facing agentic – which can also move money between customer accounts with the aim of improving interest –  into its GenAI and customer-facing product suite.

“At Bud, we already have a technology stack that understands financial data like no one else in the market,” claimed Edward Maslaveckas, CEO and co-founder of Bud. “That means our agentic capabilities are built on top of reliable individual context.”

“Every part of the bank can benefit from these models: fraud, AML, marketing, pricing, credit decisions, and risk management – the applications of agentic technology are far-reaching,” added Maslaveckas.

According to Bud, recent analysis of the customer-base of one US bank client indicated that, had the agent been running, it would have generated at least $500 in profit over the course of one year for more than 27% of customers.

Bud, a keen advocate of financial inclusion claims that for a low-earner profile, the agent would have effectively protected customers from overdraft fees, resulting in an average of $460 in fees avoided – and for some customers, avoided fees were in the thousands according to Bud.

The technology will be available on Bud’s platform to its clients, and any bank or financial institution that wants to leverage the agentic AI can license the software.