According to recent research from Fenergo, a significant number of global financial institutions are actively embracing agentic AI to enhance their compliance operations.
A survey involving 90 professionals from risk, compliance, and technology sectors across asset management, commercial banking, and investment firms in the UK and US revealed that 93% intend to adopt agentic AI within the next two years, while 6% are already utilizing the technology.
These organizations are leveraging agentic AI to address high-value and high-risk scenarios, yielding immediate benefits. Notably, over one-third of respondents identified fraud detection as their primary motivation for adoption, followed by 19% citing KYC (Know Your Customer) maintenance and 16% selecting transaction monitoring.
Financial institutions anticipate significant cost reductions associated with agentic AI implementation, with 26% forecasting annual savings exceeding $4 million. This reduction in manual workloads, acceleration of decision-making processes, and decrease in compliance violations are key factors driving this expectation.
However, data privacy (44%) and regulatory concerns (36%) remain prominent apprehensions among US financial institutions contemplating the integration of agentic AI.
Keith Redmond, Chief Product Officer at Fenergo, stated, “The increasing risks of financial crime and outdated onboarding processes are compelling firms to fundamentally reassess their compliance strategies. As operational inefficiencies contribute to rising costs, financial institutions are rightly looking to agentic AI as a value-driven, efficient compliance partner.”
He further emphasized, “Organizations that adopt agentic AI now will likely shape the future of financial crime prevention, harnessing its substantial potential for enhancing productivity, fostering competitive differentiation, and improving client service ahead of their peers.”