WorkFusion Introduces Edward, an AI Agent Revolutionizing Enhanced Due Diligence (EDD) for Financial Institutions

Streamlines operational efficiency, reduces cost, and bolsters risk mitigation of investigating high-risk customers by cutting manual effort by upwards of 60% and increasing investigation throughput by up to 5X

NEW YORK, July 15, 2025 /PRNewswire/ -- Enhanced Due Diligence (EDD) is a crucial but resource-intensive process for banks and financial institutions, requiring a detailed, thorough, and time-consuming assessment of the money laundering, fraud, sanctions, or terror financing risks a customer presents. Today, WorkFusion, a pioneer in AI Agents for financial crime compliance, announced the launch of Edward, an AI Agent specifically designed to automate and accelerate the laborious EDD process, significantly reducing manual effort and bolstering risk mitigation.

Edward directly addresses the challenges of EDD. Currently, high-risk reviews can consume days, even weeks, due to extensive manual data gathering and analysis. With global AML system spending projected to reach $51.7 billion by 2028, the need for efficiency is critical. Edward is poised to transform this landscape, enabling institutions to reduce manual effort by approximately 40-60 percent and increase throughput by an impressive 3-5X.

"For those of us who have been in the industry for a long time, we know that AML processes have been slow to evolve. Twenty-five years in, we now have the tools to usher in the next generation of financial crime compliance," said David Caruso, head of financial crime compliance for WorkFusion. "EDD places immense pressure and resource drain on compliance teams. Our new AI Agent, Edward, empowers EDD teams to focus on what they do best: identifying and understanding risks. By automating the exhaustive hunting and gathering,  tiresome copy and pasting, and completing initial analysis, Edward allows for deeper, more efficient assessment of high-risk customers."

Edward also has agent-to-agent capabilities. He can tap into the power of WorkFusion's portfolio of AI Agents such as Evan for adverse media monitoring, to provide more comprehensive case details.

How Edward Transforms Your EDD Process:

Edward's core capabilities are designed to streamline high-risk reviews:

• Accelerated Data Collection: Gathers crucial information from KYC, transaction monitoring, case management systems, and third-party sources.
  
  
• Automated Organization: Structures and formats collected data into logical groupings to streamline investigator workflows.
  
  
• Transactional Analysis: Analyzes transactional data against expected behaviors, identifying anomalies and trends.
  
  
• Source of Wealth/Source of Funds: Automates background checks on key parties and identifies UBOs, confirms external registration status & licenses, retrieves and analyzes transaction history, etc. and constructs full output reports including proof of documents.
  
  
• Focus on Assessment: Eliminates manual data entry, allowing investigators to focus on critical thinking and analysis.
  
  
• Delivers Ready-to-Use Dossiers: Generates comprehensive and formatted case dossiers (e.g. in Word) as a structured starting point for investigations.
  
  
• Informs Risk Rating: Provides insights for more informed risk rating decisions.

To learn more, download our whitepaper, A Generational Shift in AML – How AI Is Transforming Enhanced Due Diligence.

About WorkFusion

WorkFusion is a pioneer in AI agents for financial crime compliance (FCC). Its AI Agents are purpose-built workers that augment financial crime compliance operations teams in Level 1 analyst functions for anti-money laundering (AML), adverse media monitoring, sanctions screening alert review, Know Your Customer (KYC), and transaction monitoring investigations (TM). WorkFusion's AI solutions are used at 4 of the top 5 US banks and leading financial institutions around the globe to mitigate risk, solve talent challenges, increase workforce capacity, save money, enhance employee and customer experience, and improve compliance posture. For more information visit workfusion.com.

For more information:
Jessica Cassady

[email protected]

SOURCE WorkFusion