Ninth Wave's AI Tool Cuts Bank Onboarding Time by Up to 95% with Amazon Bedrock

Ninth Wave's AI-powered tool, Compass, has made significant strides in reducing the time it takes for banks and fintech partners to onboard. According to a new whitepaper co-authored with Amazon Web Services (AWS), Compass built on Amazon Bedrock can cut API integration time by up to 95%. This is a major breakthrough for open finance, as reconciling differences between bank APIs has traditionally required weeks of manual mapping and validation.

The problem lies in the fact that every bank implements its APIs differently, with unique field names, formatting conventions, and gaps relative to the Financial Data Exchange (FDX) standard. Compass solves this by running as a multi-agent AI system, with a primary orchestrator directing seven specialist agents to handle various aspects of onboarding.

Ninth Wave's partnership with AWS has enabled the development of a secure and efficient system that can scale to meet production demands. The whitepaper details how Amazon Bedrock AgentCore hosts and scales Ninth Wave's agents, providing security controls designed to meet SOC 2 and PCI DSS requirements.