Bank of Singapore released a new agentic GenAI tool cuts wealth report generation from 10 days to just one hour.
Bank of Singapore, the private banking arm of OCBC, has launched an agentic GenAI tool that automates the creation of source-of-wealth reports, reducing turnaround time from 10 days to one hour. The system uses document analysis and data validation to generate structured drafts aligned with regulatory standards.
Previously, relationship managers manually reviewed hundreds of pages of financial statements, tax records, and corporate filings. The new tool processes these documents automatically, cross-checking details against OCBC’s internal databases to ensure accuracy. It standardizes reporting formats and flags inconsistencies, enabling staff to focus on client engagement instead of administrative work.
Unlike traditional GenAI, agentic AI systems act autonomously. They can start tasks, coordinate tools, and adapt to new data in real time. The Bank of Singapore’s model continuously learns from each report, improving accuracy with every iteration. Built-in guardrails monitor for AI hallucinations, ensuring consistency and compliance. Final reviews remain human-led to maintain regulatory integrity and judgment oversight.
According to Kam Chin Wong, Global Head of Financial Crime Compliance, the AI boosts both efficiency and accuracy in decision-making. Relationship managers can now dedicate more time to portfolio analysis and client strategy rather than manual documentation. The initiative reflects the bank’s wider move toward AI-driven compliance and productivity, with OCBC’s central monitoring system ensuring transparency across all deployed GenAI models.
