Incore Bank: AI Speeds KYC with Kyndryl & Google Cloud

Incore Bank has successfully tested a new agentic AI system for customer onboarding. The Zurich-based bank collaborated with Kyndryl and Google Cloud to see if AI agents, powered by Google's Gemini models, could accelerate Know Your Customer, or KYC, checks. Here's the thing: the goal was to keep risk decisions transparent and under human control. The proof of concept used Kyndryl’s Agentic AI Framework with Gemini, adding a semantic layer for end-to-end risk assessments, including ongoing reviews. This system monitors changes in a customer's situation over time. What's interesting is that multiple AI agents work across various data sources, both internal and external. They extract and validate customer information, gather evidence, and pinpoint risk factors. The system also generates explainable risk scores and creates auditable records for compliance. The trial achieved up to 99% accuracy in automating data extraction from onboarding documents. This could potentially reduce onboarding times from months to just days. It also allows compliance staff to focus on more complex cases, while maintaining transparency and human oversight. This innovation could significantly streamline financial processes for everyone involved.