Generative AI is emerging as a game-changer for financial services, streamlining compliance and fighting financial crime. By automating customer due diligence, onboarding, and document processing, it reduces errors, accelerates verification, and lowers costs. GenAI improves negative news screening, name matching, anomaly detection in transactions, and perpetual KYC, making risk monitoring continuous and proactive. Institutions like JP Morgan, HSBC, and AmEx already use AI for contract analysis, AML monitoring, and fraud prevention. With proper governance and security, GenAI delivers efficiency, compliance, and stronger customer trust.

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