Is that "efficacy" as the (customer-hostile) bank defines it, or is this more holistic interpretation that also factors in false-positives?
i.e. can you assert that things are better now for everyone, including the completely innocent people who often get caught-up in Kafkaesque KYC ("KKYC?") loops?
Well, that's half of it.
What about people who get disapproved because they were flagged by some automated screening? ...they end-up getting stuck in limbo because they were flagged, so they can't even (for example) close-out and withdraw any other accounts they have with the same institution - and they can't get any help because of the "we-can't-tell-you-how-to-evade-KYC" rules.
Stuff that happens all the time: https://www.nytimes.com/2023/04/08/your-money/bank-account-s...
Transaction monitoring is different, that's post account opening.
When people are going through an onboarding flow it is their first account!