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When the Commonwealth Bank of Australia reimagined its financial crime compliance operations in 2024, it didn’t just upgrade its tech stack; it fundamentally rewired how work gets done. By consolidating 12 legacy applications into a single, cloud-based AI platform, the bank automated large portions of its investigative workflow. Tasks like sifting through alerts, generating summaries and drafting suspicious activity reports — once handled exclusively by human analysts — are now managed, in fractions of seconds, by generative AI.
This transformation freed up investigators to focus on nuanced, strategic decisions that machines still can’t make. It also illustrated a shift many founders