Agentic artificial intelligence (AI) could reduce the time banks spend on know-your-customer (KYC) processes by 30 to 70 per cent, improving efficiency in financial-crime prevention, but high human oversight costs and challenges related to governance and accuracy continue to hinder its wider adoption, according to a report by McKinsey & Company.
Agentic artificial intelligence (AI) could reduce the time banks spend on know-your-customer (KYC) processes by 30 to 70 per cent, improving efficiency in financial-crime prevention, but high human oversight costs and challenges related to governance and accuracy continue to hinder its wider adoption, according to a report by McKinsey & Company.
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