/ai
Bank of Singapore has rolled out an agentic AI powered tool that automates a key part of the Know-Your Customer due diligence process to ensure the legitimacy of clients’ wealth and transactions. With the use of the tool, Source of Wealth Assistant (SOWA), relationship managers are able to deliver more consistent Source of Wealth (SoW) reports within a shortened timeframe, from 10 days to one hour, while ensuring alignment with regulatory standards.