Salesforce released its latest Connected Financial Services report, sharing insights from 9,500 financial services institution (FSI) customers worldwide, including 500 from India. The report explores shifting customer expectations, the growing role of AI agents in financial services, and the evolving trust landscape.
In addition to taking the pulse of consumers’ sense of financial security and goals, the report delves into how customer experiences — including those increasingly powered by artificial intelligence (AI) agents — are changing individuals’ relationships with their FSIs. With 84% of Indian consumers expecting AI to speed up financial transactions, the survey uncovers how AI agents offer new opportunities for competitive differentiation in the financial services industry.
Key insights from the research include:
– Differentiated service and experience can outweigh rates and fees. 67% of Indians would stay with a provider that offers excellent service, even if fees increase. This is especially true for high earners (70%).
– Consumers have big expectations for AI in financial services. 74% of Indians, including 74% of Gen Z and 79% of millennials, expect AI to play a bigger role in financial services than in other industries. Indians are most interested in use cases that lower prices, prevent fraud, and surface personalised offers.
– Building trust is essential as agentic AI is rolled out. 87% of Indian consumers at least somewhat trust the use of AI agents in financial services, but only 29% are fully on board. The top factors that would build Indian consumers’ trust in AI agents are transparency into their use, user control over how they’re applied, and built-in protections.
Arun Parameswaran, EVP & MD, Salesforce (South Asia), said, “India’s financial services landscape is at a pivotal moment, with AI-driven innovation reshaping how consumers interact with their financial institutions. The rise of agentic AI solutions, like Agentforce, has the potential to provide on-demand, personalised financial recommendations, eliminating traditional barriers like time constraints and accessibility. However, to unlock its full potential, financial institutions must prioritise trust, transparency, and stringent regulatory compliance into their AI strategy from the outset – not as an afterthought.”
