Agentic AI is transforming how banks tackle financial crime by offering automation and improved accuracy . Temenos, a global leader in banking technology, has launched the FCM AI Agent, an advanced screening solution built with AI, real-time evaluation, and robust compliance frameworks . This tool aims to reduce false positives and evaluate screening alerts in real time, augmenting human capabilities .
One of the key benefits of Agentic AI is its ability to simplify complex processes by performing automated tasks without human intervention, streamlining operations and improving efficiency . Many financial institutions struggle with the cost of compliance, with over 40% of expenses tied to personnel due to heavy reliance on manual processes . Agentic AI can reduce false positives, allowing more payments to process without interruption and minimizing manual investigations, freeing compliance teams to focus on higher-risk cases .
The Temenos FCM AI Agent is achieving less than 2% false positives rates, compared to an industry average of 5-8% . This leads to faster processing of legitimate payments, reduced manual reviews, and improved customer satisfaction . The solution is deployment agnostic, fulfilling the needs of organizations to deploy on premises or Public or Private Cloud . Agentic AI can enhance KYC and due diligence processes, allowing for faster onboarding of lower-risk customers and focusing compliance analysts on high-risk cases .
Temenos partnered with a European tier-1 bank to co-create the FCM AI Agent, ensuring the solution is proven and effective . Barb Morgan, Chief Product and Technology Officer, Temenos, stated that the new solution empowers banks to stay ahead of increasingly complex compliance challenges . Jerry Silva, Program Vice President at IDC, commented that Agentic AI has the potential to significantly improve automation and reduce manual workloads across the whole institution .
As technology evolves, banks must address the challenges of data protection, legal risks, and effectively implementing AI . Responsible AI is essential, ensuring that AI is explainable and that there is a human touch in the process to build trust with customers . Integrating Agentic AI into banking operations can lead to significant improvements in efficiency, customer experience, and business growth .