Casap, an artificial intelligence agent platform for financial services, has raised $56 million in new funding.

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The company says its Series B round, announced last week, will help Casap advance its AI platform as it looks to move its focus beyond fraud and disputes to automate other financial services operations.

Shanthi Shanmugam, Casap’s co-founder and CEO, said in a news release that the company began with disputes because it was one of financial services biggest challenges, though its ambitions were further-reaching.

“We wanted to prove that AI could do more than make work more efficient,” Shanmugam said. “It could fundamentally change the outcomes for financial institutions. Today we’re cutting fraud losses in half while resolving disputes in days instead of months. Now our customers are asking us to bring that same transformation to the rest of their operations.”

Casap’s platform includes specialized AI agents that investigate, make decisions and take action across financial institutions’ systems. The agents work across existing systems and apply the institution’s own policies and procedures, bringing in human workers in scenarios where their judgment is required.

The offering covers areas including fraud, collections, claims and “complex exceptions,” areas in which fragmented systems and manual investigations can cause financial loss, delays and lackluster consumer experiences, the release said.

“If all we get from the agentic era is the same outcomes happening faster, we’ve missed a huge opportunity,” Shanmugam said.

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