I&M Bank tightens financial crime controls with ThetaRay
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The partnership will see the deployment of ThetaRay's advanced AML (Anti-Money Laundering) platform across I&M Group's operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius.
This implementation spans the entire compliance lifecycle, from onboarding and sanctions screening to dynamic customer risk assessment, transaction monitoring, alerting, investigations, and regulatory reporting. Consolidating multiple processes into a single unified system will allow I&M Group to move beyond fragmented and manual compliance operations, to a centralized, AI-powered framework capable of scaling across multiple jurisdictions and business lines.
Commenting on the partnership, Jamie Loden, I&M Bank Chief Operating Officer, stated: 'ThetaRay distinguishes itself as a genuine AI-driven solution, setting a new standard for managing financial crime risk. Its sophisticated technology brings together disparate compliance tasks into one streamlined system, empowering our teams to achieve greater accuracy and respond rapidly to AML threats.'
The partnership underscores I&M Group's strategic commitment to building a next-generation compliance infrastructure that supports both regulatory resilience and scalable regional expansion. 'As East Africa's regulatory landscape rapidly evolves, with central banks emphasizing intelligence-led oversight and digital reporting, this collaboration with ThetaRay positions I&M at the forefront of proactive risk governance,' noted Zipporah Gitau, Group Chief Risk and Compliance Officer at I&M Group. 'By transforming how we detect, assess, and report financial crime, we are building a dynamic compliance foundation that not only meets today's regulatory demands but powers our growth across the region.'
ThetaRay's platform will replace siloed legacy systems with a single, holistic compliance architecture. The rollout will cover key use cases including retail and corporate banking, trade finance, investment banking, capital markets, remittance, and e-wallet services. It incorporates ThetaRay's latest innovations, such as the Generative AI Risk Catalog, enabling compliance teams with a smarter, faster way to manage evolving regulatory and operational risk. Pre-configured and continuously updated, it enables institutions to deploy relevant, explainable and regulator-aligned risk typologies at scale.
Sibos| FFNews
Peter Reynolds, CEO of ThetaRay, said: 'This proactive move by I&M Group reflects a strong commitment to operational excellence and regulatory agility. By adopting ThetaRay's full-stack platform, I&M Group is setting a new benchmark in East Africa, proving that AI-first compliance can be both a shield against financial crime and a catalyst for growth. This is a model for how forward-thinking banks can stay resilient and build trust in the face of emerging risks.'
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