LAS VEGAS — Capital One’s use of agentic and generative AI tools is leading to faster, more reliable servicing, higher customer engagement at dealerships, and better closing rates.
When the bank’s call center agents use gen AI-based tools to research information in real time to answer customer queries, they get highly relevant answers about 93% of the time, compared with 84% with manual research, Vince Nam, executive vice president and head of dealer auto finance at Capital One, said at the 2026 AFSA Vehicle Finance Conference on Feb. 3.
Read More about Capital One’s technology strategy.
However, while AI-based tools improve efficiency and accuracy, humans are still necessary to address more nuanced questions and customer needs, Nam said.
“We are using AI [for] simpler things. Instead of a rudimentary way of automating, it is able to do that in a more sophisticated manner,” he said. “So, 95% of what used to take much more complex work, we’re able to leverage AI to do that faster, with the same precision, without trade-off.”
For the remaining 5% of complex tasks that require human intervention, Nam said, lenders need to invest in employees who can meet customers’ high expectations.
10% jump in closing rates
Dealers have also seen a lift after integrating AI-based tools such as Capital One’s Chat Concierge, an agentic AI tool, which can answer customers’ questions, schedule test drives and compare vehicle and financing options, Nam said.
“You have different AI agents that are designed to mimic human reasoning,” he said.
One dealer using the Chat Concierge tool saw customer engagement reach 55% and sale closing rates increase between 10% and 15%, Nam said, without providing specifics.
Capital One’s auto originations increased 8.5% year over year in the fourth quarter to $10.2 billion and were up 18.7% for the full year, according to the bank’s earnings supplement. The portfolio stood at $83.6 billion in Q4, up 8.8% YoY.
Editor’s Note: This story first appeared in FinAi News’ sister publication, Auto Finance News.
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