PenFed rolls out 3 AI agents with Salesforce

PenFed Credit Union has launched three AI agents, underpinned by Salesforce ’s Agentforce 360 platform, to improve client-facing and back-end operations. The agents are “streamlining repetitive tasks, surfacing insights faster and enabling our teams to focus on higher value interactions,” Shree Reddy , executive vice president and chief information officer at $29 billion PenFed Credit Union, told FinAi News . Salesforce, a customer relationship management (CRM) platform, launched its AI agent platform Agentforce in 2024, according to the company. Financial institutions including Bank of America , Caixa Bank and payments company Stax have deployed Salesforce Agentforce agents. [caption id="attachment_57384781" align="alignright" width="300"] (Courtesy/Bloomberg)[/caption] At PenFed, the agents are deployed in IT, collections and member services. “We’re seeing strong positive returns from Agentforce, particularly in improving service efficiency and responsiveness,” Reddy said. Examples of these improvements: Within member services, the agent saves 30,000 minutes daily through call summarization, saving $3 million a year, according to the credit union. IT service requests see autonomous resolution up to 75% of the time. The time employees spend on customer calls has been cut by 10%. “Based on those results, we see a clear path to expanding the use of AI agents,” Reddy said, adding that agents are being considered where they “can decrease back-office latency, reduce friction and improve overall member experience.” PenFed has worked with Salesforce since 2017. The tech provider “has been a key enabler of how we modernize member engagement and deliver more personalized, data-driven experiences,” he said. Agentic enterprise PenFed is focused on being an agentic enterprise, Chief Executive James Schenck said in the credit union’s April 30 first-quarter earnings release. “Being an agentic enterprise is central to creating value for our members, employees,and the institution by driving innovation, building resilience and generating long-term impact throughout PenFed,” he said. Salesforce is driving the agentic efforts, but AI is deployed elsewhere throughout the credit union: It uses AI to generate a summary of borrower’s habits in lending operations, Ch ris Kleczynski , vice president and head of auto lending product strategy, told FinAi News ’ sister publication Auto Finance New s. Register here for the FinAi Lending Summit, set for Oct. 7-8 in Las Vegas.

PenFed rolls out 3 AI agents with Salesforce

Agents saving the credit union $3M per year in call center alone

Anthropic, JPMorgan execs: AI ROI hinges on cracking adoption challenges

Wells Fargo to embed AI across wealth platform

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PenFed rolls out 3 AI agents with Salesforce

Agents saving the credit union $3M per year in call center alone

Anthropic, JPMorgan execs: AI ROI hinges on cracking adoption challenges

Wells Fargo to embed AI across wealth platform

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