Deutsche Bank Private Bank has launched an agentic AI solution designed to automate elements of its Know Your Customer (KYC) process.

The AI-powered Source of Wealth (SoW) solution has gone live in the bank's Singapore and Hong Kong booking centres, with a wider rollout planned across its global wealth management business. It has also been introduced for relationship managers in Dubai handling accounts booked in Singapore.

The system supports what Deutsche Bank said is one of the most resource-intensive elements of KYC by automating the research, documentation and preparation of Source of Wealth information. It analyses client documentation alongside approved external data sources to prepare assessments for review by bank staff, while identifying gaps or inconsistencies that require further investigation.

By integrating the technology into its digital KYC platform, Deutsche Bank said the technology reduces administrative workloads, improves consistency and enables relationship managers to spend more time advising clients rather than completing manual compliance tasks.

According to Deutsche Bank, the solution is expected to support significantly higher onboarding volumes while operating within its existing governance and control framework. The bank's Emerging Markets business is forecast to onboard around 30 per cent more clients in 2026 than in 2025.

The rollout also aligns with Singapore's ambition to reduce median wealth management onboarding times to one month or less, including for more complex client cases, as financial institutions increasingly explore AI to modernise compliance and operational processes.

Yiping Li, chief operating officer of Deutsche Bank Private Bank, said: “This Agentic AI solution helps us make a complex process more efficient, consistent and scalable while maintaining robust controls and human oversight.

“As we continue to embed AI across our global operations, this initiative demonstrates how technology can address practical business challenges and improve client onboarding. We developed it with a clear principle in mind: while tasks can be automated, accountability remains with our people.”

---