This McKinsey white paper explores how agentic AI can transform banks’ fight against financial crime, where current KYC/AML processes detect only ~2% of illicit flows despite rising compliance costs. Unlike analytical or generative AI, agentic AI deploys autonomous agents that execute end-to-end tasks with minimal human oversight, boosting productivity by up to 20x. Banks can build “AI factories” of agent squads to automate onboarding, monitoring, investigations, and reporting, creating audit trails and improving quality. Success requires rewiring processes, strengthening data quality, redesigning operating models, and embracing change management to scale effectively.

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