The next frontier of artificial intelligence in banking has arrived in the UK, as Revolut and Monzo both launched agentic AI features in the autumn of 2025 that go far beyond traditional chatbot interactions. Revolut's "AutoPilot" system, released in September, can autonomously switch customers to cheaper energy tariffs, cancel unused subscriptions, and move surplus funds into higher-yielding savings accounts — all without requiring explicit instructions for each action. Monzo followed in October with "MonzoMind," an AI agent capable of negotiating overdraft terms, scheduling bill payments to optimise cash flow, and proactively alerting users to irregular spending patterns.

Nik Storonsky, Revolut's chief executive, described agentic AI as "the moment banking stops being a tool you use and becomes a service that works for you." Early data from the rollout suggests strong customer engagement, with 41 per cent of eligible Revolut users activating AutoPilot within the first month. The system reportedly saved users an average of £127 per month through automated switching and subscription management. Monzo's Tom Sherwood, vice president of product, said the bank had spent 18 months developing guardrails to ensure MonzoMind operated within strict financial boundaries set by each user. "The agent can suggest and execute, but only within parameters the customer defines," he explained.

The FCA has been closely monitoring the development, convening a dedicated working group on autonomous financial agents in August. Regulators are particularly concerned about liability in cases where an AI agent makes a decision that results in financial loss. "If an autonomous system switches a customer to a product that turns out to be unsuitable, the question of who bears responsibility is not straightforward," said Sheldon Mills, the FCA's executive director of consumers and competition. Industry insiders expect formal regulatory guidance on agentic AI in financial services by mid-2026, with early indications suggesting a framework built around mandatory audit trails and customer override capabilities.