The Bank of Bahrain and Kuwait (BBK) has partnered with SymphonyAI to implement advanced AI-based anti-money laundering (AML) technology, aiming to strengthen its transaction monitoring and customer due diligence processes. This initiative will enhance BBK’s regulatory compliance and improve its efforts to combat financial crime across its operations in Bahrain, Kuwait, India, Turkey, and the UAE.
SymphonyAI’s scalable Software as a Service (SaaS) platform is designed to efficiently process large volumes of transactions, reducing false positives and pinpointing illicit activities with greater precision.
Nadine Alshiwari, BBK’s Group Head of Compliance and Money Laundering Reporting Officer, expressed confidence in the partnership, saying, “At each step, we have been impressed by SymphonyAI’s industry expertise, product strategy, visionary AI roadmap, and extensive financial crime detection experience. Our mission includes a commitment to using cutting-edge technology, and SymphonyAI’s AI-based SaaS product architecture provides us with leading-edge capabilities, ensuring we remain at the forefront of financial crime detection and compliance both now and in the future.”
SymphonyAI’s technology, powered by the Eureka AI platform, equips BBK with advanced tools to detect and prevent financial crimes, offering the agility required to adapt to ever-evolving regulations in the diverse markets the bank operates in.
