BUSINESSNEXT Aims to Transform India’s BFSI Landscape with Tailor-Made AI Solutions: Nishant Singh, CEO

BUSINESSNEXT, a cloud solution provider for BFSI, has unveiled AGENTNEXT, claiming to be India’s first AI agent platform for the sector. To shed light on the platform’s capabilities, vision, and potential impact on the industry, Nishant Singh, Founder and CEO, BUSINESSNEXT provides exclusive insights in an engaging conversation with CXO News and APAC News Network.

What are some of the salient features of AGENTNEXT that you would like to highlight?

Our platform harnesses AI to streamline routine operations, allowing human teams to focus on complex challenges and strategic decision-making. AGENTNEXT’s innovative features include AI-powered personalized banker assistants, advanced contact centres, and tools designed to optimize efficiency in sales, marketing, lending, and customer service.

The proprietary Thinking Brush engine facilitates the accurate handling of intricate financial scenarios. AGENTNEXT has also included a no-code Agent Studio, that enables businesses to design tailored AI agents that align with their unique operational goals and compliance requirements.

Could you elaborate on BUSINESSNEXT’s strategic partnerships with major technology providers, banks and industry associations?

BUSINESSNEXT has forged partnerships with leading financial institutions, including SBI, Punjab National Bank, HDFC Bank, Axis Bank, National Bank of Oman, IndusInd Bank, Kotak Mahindra Bank, Kotak Life Insurance, TP Bank, TATA AIA Life Insurance, PNB MetLife, Security Bank, Bajaj Allianz, Max Life Insurance, and many others.

We have also collaborated with global cloud providers like AWS, Google Cloud, Oracle, Azure, IBM Cloud, and Red Hat OpenShift, offering scalable, secure, and high-performance infrastructure tailored for the BFSI sector.

Additionally, our partnerships extend to global system integrators (SIs) and consulting firms such as KPMG, Deloitte, Polaris, MDSL, and CMC Ltd, ensuring smooth implementation and support for large enterprises. Our technology partners also include industry leaders like Cisco, Infosys Finacle, CRIF, TCS BaNCS, and more, providing integrated, state-of-the-art solutions to meet the diverse needs of financial institutions.

Given the sensitive nature of financial data, how does your AI agent ensure robust data privacy and security measures to protect client information?

Data privacy and security are the cornerstones of AGENTNEXT. We have built the platform with a robust Trust Layer, which incorporates multiple levels of protection for sensitive financial data. There are quite a few features that we have included to address these concerns:

• No Data Storage: AGENTNEXTdoes not retain user data, unless explicitly requested to do so. It interacts directly with CRM systems without creating unnecessary copies.
• Encrypted Data Exchange: All communications are encrypted using advanced protocols like TLS, ensuring data integrity and confidentiality.
• User Anonymity: Personal information is not required for interaction unless voluntarily provided, ensuring anonymity in user-agent exchanges.
• Controlled Access: Strict governance protocols ensure the platform only performs authorized tasks, with detailed logs for transparency and accountability.
• File Security: Uploaded files are processed strictly as per user instructions and can be deleted immediately upon request.
• Built-in Guardrails: These safeguard against inappropriate outputs, ensure respectful interactions, and minimize the risk of misinformation.

How seamless is the integration of AGENTNEXT with existing systems used in the BFSI sector?

AGENTNEXT has been designed to integrate effortlessly with existing systems, ensuring minimal disruption and maximum compatibility. Here’s how we achieve this:

1. Smart API Integration: The platform uses RESTful APIs to connect with core banking systems (CBS), CRM tools, and other financial platforms.
2. Pre-Built Adapters: Ready-to-use adapters enable easy linking to existing systems, reducing time and effort.
3. Flexible Architecture: The modular design supports deployment on cloud-based, hybrid, or on-premises infrastructures, catering to varied IT strategies.
4. Real-Time Synchronization: Using tools like Kafka and Webhooks, AGENTNEXT supports real-time data updates and seamless synchronization.
5. Secure Data Exchange: All data is transmitted securely, with Role-Based Access Control (RBAC) limiting access to authorized personnel only.

How does AGENTNEXT meet the customization and scalability needs of diverse financial institutions?

Customization and scalability are at the heart of AGENTNEXT. Our Agent Studio empowers users to create role-specific AI agents, tailoring them to meet unique operational and regulatory requirements.

The platform’s architecture, built on microservices, incorporates DataMesh for decentralized data management and Service Mesh for secure inter-service communication. With dockerized containers orchestrated on Kubernetes, AGENTNEXT dynamically scales to handle increasing workloads and data volumes. This ensures consistent performance even in high-demand scenarios, enabling financial institutions to grow without limitations.

Which Large Language Models (LLMs) are supported by AGENTNEXT?

The AGENTNEXT platform supports a wide range of Large Language Models (LLMs) & Small Language Models (SLMs), including third-party APIs like OpenAI, Gemini etc. as well as private fine-tuned models such as Llama 3, and Mixtral. It also provides an ensemble of fine-tuned, grounded and censored LLM and SLM (Small Language Models) models that can be deployed on-premise or cloud, enabling agents to dynamically select the most suitable model based on the complexity and requirements of the specific use cases. This flexibility ensures optimal performance and adaptability across diverse applications.

Regulatory compliance is critical for the BFSI sector. How does AGENTNEXT address this?

Regulatory compliance is a top priority for AGENTNEXT. The platform ensures adherence to evolving industry standards through:

Trusted Data Sources: AI agents utilize reliable BUSINESSNEXT CRM and Unified Data Platform (UDP) information.

Comprehensive Governance: Advanced features like PII masking, data grounding, and GAI data audit trails provide a secure framework.

Effortless Escalation: Tasks beyond the AI agent’s capabilities are smoothly transitioned to human agents.

What tangible benefits can BFSI institutions expect from implementing AGENTNEXT?

BFSI businesses adopting AGENTNEXT can achieve:

• Cost Efficiency: Reduction in service costs and workload for contact centre staff.
• Revenue Growth: Higher revenue per relationship manager or sales representative.
• Time Savings: Streamlined processes that free up employees for higher-value tasks.
• Enhanced Customer Experience: Faster, personalized resolutions and better satisfaction scores.
• Risk Management:  Quick identification of potential risks and proactive mitigation strategies.

With AGENTNEXT, BUSINESSNEXT aims to transform India’s BFSI landscape by delivering a secure, efficient, and highly customizable AI solution tailored to the industry’s unique challenges and opportunities.

Bhaswati Guha Majumder, APAC News Network

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