Agentic KYC – Strategy & Implementation

While banks are facing an always changing and increasingly complex regulatory environment, they also evolve in a highly competitive market with clients more demanding and volatile than before.

For many institutions, KYC remains a highly manual, time-consuming, resource-intensive and Client and Front Officer frustrating process, under high scrutiny of regulators.

Leveraging AI and emerging cutting-edge technologies thus becomes a necessity to resolve this difficult equation: achieving cost savings while decreasing operational risk and providing faster, adapted and contextualized customers services. This transformation is moreover a key enabler to the target objective of reaching perpetual KYC.

Key challenges observed by banks:

Time Sensitivity

1. 100 days is the Average timeline for onboarding process of the new corporate client
2. Time-sensitive transactions may be jeopardized impacting both client satisfaction and revenue generation

Productivity

1. 50% of the KYC activities are labor intensive or manual
2. Manual and disjointed onboarding workflows hinders employee productivity and efficiency Knowledge transfer
3. 15% is the average annual turnover rate leading to a constant loss of institutional knowledge
4. Establishing a systemic approach to capture and share best practices can help optimize the client onboarding processes.

User experience

1. 89% of clients say they have had a negative experience with KYC
2. Cumbersome experiences diminish the overall client satisfaction

Benefits:

Reduce Operational Costs - Automate the KYC process roles with Agents and Assistants enabling you to reduce significant time spent per case and therefore realize cost savings across the KYC value chain.

Improve Analyst Utilization - Automate the non-value adding & time-consuming tasks will unlock KYC Analysts’ time along the process for tasks that fully utilize their experience and expertise.

Reduce Errors - Reduce manual intervention by automating some KYC tasks will allow Analysts to avoid making mistakes and multiple QC checks while improving Customer Experience.

Improved User Experience - Provide a seamless experience for both customers and KYC Analysts by avoiding unnecessary interactions, automate data capture and Agent-driven dynamic workflows.

Microsoft AI and Copilot Stack enabling KYC Transformation:

1. Ability to source data from internal and external providers to streamline entity data capture and resolution.

2. Multi-Agent dynamic workflows with Azure AI Foundry to digitize the tasks of case workers.

3. Structured and Unstructured document analysis and data capture leveraging foundational models from Azure AI Model Catalog as well as Power Platform AI Builder.

4.Copilot Agents integrated with your enterprise systems and data sources providing assistive capabilities like across KYC value chain.

5. Data driven risk assessment and reviews eliminating time consuming multi-level QC processes

The pricing for this engagement will be customized based on the scope and requirements determined during the initial consultation. Please refer to attached overview for a typical 15-week strategy and proof of value engagement plan.