Incore Bank has completed a proof of concept showing how agentic AI could significantly reduce customer onboarding times while maintaining human oversight and regulatory compliance during Know Your Customer (KYC) checks.

The Swiss B2B transaction bank worked with IT infrastructure provider Kyndryl and Google Cloud to develop and test an AI-powered system that automates customer risk assessments. It said that this will help banks streamline KYC processes while creating explainable and auditable decision records.

The proof of concept used Google's Gemini models alongside Kyndryl's Agentic AI Framework to automate tasks including customer information extraction, evidence gathering, risk identification, risk scoring and the creation of compliance records. The system also continuously monitors customers for changes in their circumstances.

According to the companies, the solution achieved up to 99 per cent accuracy when extracting data from customer onboarding documents and demonstrated the potential to reduce onboarding times from months to days. The project also enabled compliance teams to spend more time on complex cases by automating routine tasks while keeping humans involved in the final decision-making process.

Mark Dambacher, chief executive of Incore Bank, said: “At Incore Bank, we believe innovation must go hand in hand with trust, transparency and strong regulatory governance.

“The proof of concept we completed with Kyndryl and Google Cloud shows how cloud-enabled agentic AI can help banks assess both prospective and existing customers more efficiently while maintaining the rigorous oversight and controls required in a regulated environment. By reducing manual effort and supporting consistent, transparent decision-making, the solution has the potential to strengthen customer risk management across the entire customer lifecycle.”

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