Manual KYC onboarding costs up to $3,000 per corporate client

Institutions deploying AI agents in identity verification report a 90 per cent reduction in onboarding time and 40 to 45 per cent fewer false positives in screening. The prerequisite is not technological: it is having decision logic externalised and accessible. The EU 6AMLD, SEPBLAC guidelines, and FATF framework require traceable documentation of every risk decision. An agent operating on hidden logic amplifies regulatory risk rather than reducing it.

McKinsey & Company, 2024 — Global Banking Annual Review