Capital One taps agentic AI at dealerships

Capital One is employing autonomous agentic AI at dealerships to make it easier for car buyers to receive information, schedule test drives and compare vehicles online. The bank is rolling out Chat Concierge, an agentic AI tool that answers customers’ questions and can help consumers schedule test drives, compare available cars and explore financing options before going to a dealership, all during one online interaction, according to a Capital One release. [caption id="attachment_58349428" align="aligncenter" width="1024"] (Courtesy/Capital One)[/caption] Capital One is building on its generative AI technology, Sanjiv Yajnik , president of financial services, told Auto Finance News. “Generally, chat features have been mostly focused on ‘Give us your information and we’ll give you a call,’” he said. “With gen AI, there’s a way to do it in a more sophisticated manor.” Building on gen AI The Concierge tool uses external large language models and open source technology but builds on Capital One’s proprietary data and gen AI architecture, Yajnik said. “We want to use our data and our own methodologies of training to create the magic we have,” he said. Agentic AI is gaining steam in financial services and in the automotive industry as the next step beyond Gen AI . Agentic AI is the use of AI-based systems that can make autonomous decisions, complete actions and answer questions by using real-time and historical data, according to a January 2025 report published by Citigroup . The technology builds on gen AI, which is used to create content and share information based on patterns learned from data. “Agentic AI is a very sophisticated tool. Instead of having one agent trying to answer all the questions, you get expert AI tools,” Yajnik said. “Each one is an expert in a particular domain, and then you get them to talk to each other. ... It can connect with the person in a more human-like way.” Enhancing the dealership experience Chat Concierge plugs into Capital One’s Navigator Platform and dealer customer relationship management software, Yajnik said. Dealerships are facing challenges when it comes to profitability and an abundance of supply, making it more crucial for them to capture every customer possible, he said. “Inventory is going up, and margins are coming down in dealerships,” Yajnik said. “[Dealers have] got to make sure that they can run efficient operations. ... They can't afford to miss out on any customer wanting to come into the store. A lot of customers do their research online .” Dealers can opt in to Chat Concierge and the tool is plugged into their website and system, allowing customers to set appointments, get pricing information and ask questions even after hours, he said. “Engaged customers are more likely to come into your store and buy a car.” Capital One continuously builds on its tech stack to improve dealer interactions with customers, Yajnik said. In August, the bank launched its dealer lead generation card, Muse , which allows sales personnel to share their profiles and options to prequalify, search inventory and calculate monthly payments anywhere with customers. The bank over the past year also implemented technology to grow originations , improve underwriting and enhance chatbot capabilities . Capital One’s auto originations jumped 52.7% year over year in the fourth quarter of 2024 to $9.4 billion, while full-year originations rose 28% YoY to $34.5 billion. Auto outstandings landed at $76.8 billion in Q4, up 3.7% YoY. Auto Finance Summit East 2025 is set for May 12-14 at the JW Marriott Nashville featuring fireside chats with Santander Consumer USA and Chase Auto. Visit autofinance.live for more information. Early-bird registration is available here .

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Capital One taps agentic AI at dealerships

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