Following this announcement, the FinCrime Operating System (OS) leverages Agentic AI in order to enable financial institutions to overcome spiraling operational costs and the rising compliance demands, development by geopolitical tension and regulatory flux.
The FinCrime Operating System will unify all client lifecycle events, from onboarding, KYC, to screening, identity and verification (ID&V), and transaction monitoring on a single platform. In addition, the initial six autonomous AI agents will execute tasks quickly, accurately, and with full auditability, as these agents will enable firms to automate tasks, gain real-time insights, and maintain full control and governance over their processes.
According to the official press release, the FinCrime OS will optimise client experiences with the use of a digital-first approach to onboarding and KYC reviews, as well as efficient transaction monitoring alert workflows. The products will also reduce operational costs by automating tasks, aiming to save up to 93%.
Furthermore, the FinCrime OS’ Command Center was developed in order to strengthen risk mitigation through AI-driven insights, enabling improved policy operationalisation and minimising regulatory risks. At the same time, by being built in line with global AI acts and regulatory guidelines, Fenergo’s Agentic AI aims to ensure sound governance with transparent actions, fostering trust and control. The Commance Center is set to deliver personalised, real-time dashboards and data analytics, allowing users to observe all agent activity and maintain complete governance and control over entity data in line with AI regulations across the world.
Fenergo’s initial Six AI agents were signed in order to streamline periodic KYC reviews by autonomously handling tasks like data reconciliation, document classification, or risk screening. This process is expected to reduce manual effort and backlog, enabling proactive, intelligent workflows and allowing compliance teams to focus on high-risk exceptions.
The Six AI Agents currently available include the Data Sourcing Agent (designed to source data from one or more third-party data providers and compare against entity data or auto-complete tasks), Screening Agent (runs screening checks against third-party integrations, while also auto-resolving hits and returning results to providers), Document Agent (extracts, classifies, and links documents by using AI to automate document-management procedures), Significance Agent (performs a check against data changes in order to determine significance to define next action), Autocompletion Agent (Developed to automate the completion of tasks based on pre-defined rules, policies, or configured guardrails), and Insights Agent (representing Fenergo’s co-pilot, which allows users to interact with all operational, policy and entity data through natural language and harness real-time insights on process efficiency, operations, or risk).
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now