The Bank of Bahrain and Kuwait (BBK) has adopted SymphonyAI’s AI-based anti-money laundering (AML) technology to strengthen its transaction monitoring and customer due diligence processes. This move aims to improve regulatory compliance and combat financial crime across BBK’s operations in Bahrain, Kuwait, India, Turkey, and the UAE.
SymphonyAI’s scalable software-as-a-service (SaaS) platform is designed to process large volumes of transactions efficiently, reducing false positives and identifying illicit activities with greater accuracy.
Nadine Alshiwari, BBK Group Head of Compliance and Money Laundering Reporting Officer, praised SymphonyAI’s expertise and innovative AI-driven approach. “We have been consistently impressed by SymphonyAI’s industry knowledge, visionary AI roadmap, and extensive experience in financial crime detection. Our goal is to leverage cutting-edge technology, and SymphonyAI’s AI-based SaaS architecture combines advanced capabilities with user-friendly functionality, helping us stay at the forefront of financial crime detection and compliance,” she stated.
The deployment of SymphonyAI’s technology, powered by the Eureka AI platform, equips BBK with advanced tools for detecting and preventing financial crimes. The AI system offers the flexibility needed to adapt to changing regulations in the various markets BBK serves.
