Agentic AI could strengthen financial-crime prevention, but governance, cost hurdles limit adoption: McKinsey

New Delhi [India], October 27 (ANI): Agentic artificial intelligence (AI) could reduce the time banks spend on know-your-customer (KYC) processes by 30 to 70 per cent, improving efficiency in financial-crime prevention, but high human oversight costs and challenges related to governance and accuracy continue to hinder its wider adoption, according to a report by McKinsey & Company.The report noted that banks “often assign 10 to 15 percent of employees to know-your-customer (KYC) and anti-moneylaundering (AML) activities alone.” Now institutions are…