Finzly Launches AI Agents to Help Processors Streamline Operations

Payments-technology provider Finzly announced early Wednesday its launch of technology that allows financial institutions to create AI agents to automate payment processing and operational workflows, and make informed decisions on the bank’s behalf in seconds.

The launch, what Finzly calls Agentic Galaxy, comes at a time when financial institutions are turning to artificial intelligence to help automate a variety of tasks. One popular application in payments for example, is validating AI agents shopping on a consumer’s behalf. 

For payments processing, AI agents can be used to overcome the limitations of traditional systems, increase operating efficiencies, improve security and the customer experience, the Charlotte, N.C.-based fintech says

In one example, financial institutions can use Agentic Galaxy to create AI agents to screen for false positives in fraud detection, a job typically reserved for humans. Automating the screening process reduces the risk of declining a good transaction upon human review.

“Clearing false positives is complex and takes a lot of time,” says Booshan Rengachari, founder and CEO at Finzly. “The more you ask a human to do, the greater the chance a mistake will be made. Giving an AI agent the knowledge to make decisions automates the process while allowing for humans to review the agent’s work.”

As a result, financial institutions can maintain the human-in-the-loop governance model that helps ensure compliance, Rengachari adds.

In addition, the use of AI agents can help financial institutions free operations teams to focus on product innovation, customer satisfaction, and keeping pace with the competition. For example, a customer who wants to know how many times a month one account is generating a transaction to another account can create an AI agent to perform that task.

“These kinds of task are laborious and time consuming, but with AI agents, financial institutions can reduce their time and labor [when performing them], and the frustration that can occur in the process,” says Rengachari says.

Built on Amazon Web Services infrastructure with enterprise-grade security and privacy controls, Agentic Galaxy incorporates the same data-protection standards Finzly uses in its core platform, which supports traditional and instant payments such as FedNow, RTP, ACH, and SWIFT, the Charlotte, N.C.-based fintech says.

While AWS suffered a global outage Monday, Finzly was not impacted, Rengachari says. “We pay a lot of attention to, and [spend] time planning for, what ifs,” Rengachari adds. “We are extremely focused on making sure the payment goes out.”