Incore Bank Completes AI Pilot With Kyndryl and Google Cloud, Reducing KYC Onboarding From Months to Days
Incore Bank Completes AI Pilot With Kyndryl and Google Cloud, Reducing KYC Onboarding From Months to Days #
Switzerland’s Incore Bank has completed a proof of concept with IT services firm Kyndryl and Google Cloud, using a network of AI agents to automate the most labour-intensive parts of the bank’s know-your-customer process. The companies said in a 31 August announcement that the system achieved up to 99% accuracy in extracting data from onboarding documents.
Incore Bank, a Zurich-based B2B transaction bank, said the trial showed the technology could compress a compliance workflow that currently takes months into a process measured in days. The system was built on Kyndryl’s Agentic AI Framework, running on Google’s Gemini models hosted in Google Cloud.
Rather than a single AI model handling end-to-end decisions, the architecture deploys multiple specialised agents in parallel. Separate agents handle extracting and validating customer information, gathering corroborating evidence from internal systems and trusted external sources, flagging risk factors, and producing an explainable risk score alongside a complete audit trail that compliance staff can inspect. Kyndryl’s ‘policy as code’ capability acts as a semantic guardrail layer, ensuring agents operate within defined governance boundaries at each step.
The final risk decision remains with a human compliance officer. The 99% accuracy figure refers to the automated extraction of data from onboarding paperwork, not to the bank’s credit or risk judgments, a distinction the companies drew explicitly in their announcement.
“The proof of concept we completed with Kyndryl and Google Cloud shows how cloud-enabled agentic AI can help banks assess both prospective and existing customers more efficiently while maintaining the rigorous oversight and controls required in a regulated environment,” said Incore Bank CEO Mark Dambacher.
The solution is also designed to support ongoing customer monitoring after initial onboarding, continuously tracking changes in customer circumstances rather than treating KYC as a one-time check at account opening.
Adoption of AI tools for compliance work is uneven across the financial industry. According to PYMNTS Intelligence, about one in five financial firms currently deploys AI for KYC and identity checks, though nearly two-thirds say they plan to adopt or expand such tools within the next twelve months.
Incore Bank, which serves institutional and corporate clients, said the system is intended to free compliance professionals from repetitive document processing so they can concentrate on cases that require more judgment. The bank did not announce whether it plans to move ahead with a full production deployment.
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