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Efficiency, personalization, 24/7 availability – the promises of AI-powered chat and voice bots are tantalizing for business banking. But with increasing regulatory scrutiny and the high-stakes nature of business banking, are these promises enough to overcome inherent skepticism?
Banks are doubling down on digital efficiency, but are banking customers ready to embrace AI-led service models? And if so, how do you strike the right balance between bots and bankers?
OvationCXM’s 2025 Business Banking Customer Experience Report highlights three key themes about how business banking clients approach this AI-driven shift. This post unpacks these themes in detail, revealing where adoption is likely, where resistance persists, and the crucial factors that will determine AI's ultimate success in the sector.
AI-Powered Support in Financial Services Today
Banks have long been at the forefront of digital transformation, and AI-powered support and service - especially chatbots and voice bots - is now a cornerstone of that evolution. According to McKinsey’s 2024 State of AI report, financial services firms are increasingly generative AI in customer-facing functions, with chatbots and voice assistants among the top applications. These tools are especially prevalent in service operations and customer care, where institutions are redesigning workflows to integrate genAI into front-line banking support.
McKinsey also notes that larger banks, defined as $500M+ in revenue, are moving faster, with dedicated AI oversight, better governance, and clearer roadmaps for deploying genAI solutions like chatbots. In fact, the analyst goes on to say, 21% of organizations using genAI have already redesigned workflows, such as routing support inquiries through AI-driven assistants before escalation to human agents. What's more, this model is gaining traction at speed in banking.
But, while genAI bots may help banks reduce upfront costs and manage high inquiry volumes, how do customers, especially business banking customers, feel about this shift?
Interested in making AI work for your bank? Learn about our CXM platform today.
Business Banking’s AI Shift – 3 Key Findings from the 2025 Customer Experience Report
In OvationCXM’s 2025 Business Banking Customer Experience Report, we present findings focused on business banking customer expectations for onboarding and support, and the critical need for journey orchestration and personalized CX.
1. AI vs. Human Support: Where Do Customers Draw the Line?
As part of our comprehensive survey, we asked 834 business banking customers, from sole proprietors to enterprises, about their comfort with AI support adoption in business banking. Three themes emerged:
- There is a generational divide when it comes to embracing AI-powered service
- Human interaction is still exceptionally valuable, and
- Channel flexibility is especially important
These themes, detailed below, are crucial for understanding the current state and future trajectory of genAI for business banking customer experience.
There’s a Generational Divide in AI acceptance
The results of our comprehensive survey paint a clear picture: age profoundly impacts the acceptance of AI-driven business banking support.
When respondents were asked whether they agreed with the statement: “I’m comfortable receiving customer support from an AI voice or chatbot for my business banking product/service,” a generational pattern began to emerge.
While younger business owners (under 55), eager for speed and convenience, readily embrace AI chatbots and voicebots, their older counterparts (age 55+) are more reluctant, indicating a preference for interaction with human agents. This generational divide suggests that while AI support tools can be an effective part of the service mix, banks and credit unions must strategically tailor their AI offerings to accommodate these divergent preferences.
How do generational differences affect AI adoption in banking?
2. Business Banking Still Needs Human Agents
Despite the increasing acceptance of automation within business banking, our research underscores a crucial point: AI cannot, and should not, replace human interactions, especially where empathy is required. Survey respondents consistently identified pain points that AI alone is ill-equipped to address. These include the frustration of navigating multiple departments for a single resolution, enduring lengthy wait times, a lack of transparency regarding inquiry status, receiving conflicting information, and the repetitive burden of resubmitting previously provided information and documents.
These recurring issues highlight the indispensable need for human oversight, particularly within the high-stakes environment of business banking. While AI can effectively manage initial inquiries and FAQs, complex cases demand human judgment, contextual understanding, and emotional intelligence.
A hybrid model approach is best suited for business banking clients, where AI streamlines routine processes and human agents provide personalized support and empathy for more complex or high-friction situations.
3. Support Channel Flexibility and Choice is Vital
Our research highlights the importance of channel flexibility and customer choice in business banking. When asked about critical support aspects, a significant number of business banking clients prioritized a "variety of support channels (phone, chat, email, SMS)."
Furthermore, the complexity of support journeys, which often span multiple departments and touch points, necessitates low-friction transitions. Our findings identify critical opportunities for journey orchestration, underscoring the need for robust channel integration and fluid handoffs between AI and human agents. Without this seamlessness, customer frustration inevitably escalates leading to poor experiences and, potentially, customer churn.
Actionable Insights for Financial Services Leaders
The insights from our research underscore a critical truth: successful AI support integration in business banking demands a strategic, customer-centric approach.
Banks must prioritize AI use cases that include channel flexibility, understand generational preferences, and acknowledge the enduring value of human empathy. Achieving this balance requires robust knowledge management, seamless journey orchestration, and a deep understanding of customer needs.
For financial institutions seeking to navigate this complex landscape and optimize their AI investments, exploring proven strategies and best practices is essential.
OvationCXM’s platform is capable of unifying knowledge, delivering contextually relevant responses, and adapting to the evolving needs of business banking clients. By focusing on these core principles, financial institutions can unlock the transformative power of AI, creating customer experiences that build loyalty and drive lasting value.
Discover how OvationCXM can help your bank or credit union balance automation with personalized service—schedule a free demo today.
