AI agents cut credit approval time by up to 50% in Latin American banks

A new Boston Consulting Group (BCG) report on the future of finance finds that generative and agentic artificial intelligence can halve the time required to approve credit applications in banks across Latin America. The technology also lowers operating costs, improves early fraud detection by more than 30% and boosts commission‑based revenue in private banking by up to 30% as staff shift from routine tasks to client service.

BCG notes that traditional digitalisation has failed to curb rising cost pressures: operating‑expense ratios have stalled at about 3.1% of assets while payroll in the banking system has grown roughly 2% per year over the last four years. By automating complex risk‑assessment and compliance processes, AI agents offer a new efficiency frontier. For the Dominican Republic, the report suggests that adopting these models could raise operational productivity and strengthen risk management, helping banks preserve profit margins as interest‑rate spreads shrink.

The findings highlight a broader shift in the financial sector toward AI‑driven workflow automation, with potential ripple effects on profitability, fraud prevention and customer experience throughout the region.