I&M Group Taps ThetaRay to Supercharge AML Compliance with AI Across East Africa
AI Joins the Fight Against Financial Crime as I&M Group Deploys ThetaRay Across East Africa
In a major move to modernize its compliance infrastructure, I&M Group PLC—a leading financial services provider in East Africa—has partnered with ThetaRay, the AI-first firm making waves in financial crime detection. The result? A unified, cognitive AI-powered AML (Anti-Money Laundering) platform now set to roll out across I&M’s operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius.
It’s one of the most comprehensive regional deployments of ThetaRay’s platform to date, reflecting the bank’s ambition to ditch fragmented, manual compliance tools in favor of something far more modern—and intelligent.
No More Patchwork Compliance
Legacy compliance systems often resemble a Frankenstein’s monster of bolt-on tools and spreadsheets. That might have been passable a decade ago, but with regulators demanding real-time oversight and cross-border visibility, it’s no longer fit for purpose.
ThetaRay’s solution replaces these outdated silos with a single, full-stack AI architecture that handles everything from customer onboarding and sanctions screening to transaction monitoring, risk scoring, and regulatory reporting. It’s an end-to-end compliance upgrade, designed to scale across multiple countries, banking verticals, and digital services.
“This is not just AI-washing,” said Jamie Loden, COO at I&M Bank. “ThetaRay distinguishes itself as a genuine AI-driven solution, bringing together fragmented compliance processes into a streamlined, adaptive system.”
Regional Expansion, Regulatory Precision
The timing is strategic. East Africa’s financial landscape is evolving fast, with central banks increasing regulatory scrutiny and demanding smarter compliance reporting. For a bank like I&M Group—with ambitions for regional dominance—the risk isn’t just non-compliance, it’s stagnation.
ThetaRay’s platform gives I&M the agility to respond rapidly to emerging threats while keeping regulators happy. That’s not just about better algorithms; it’s also about explainability. With the integration of ThetaRay’s Generative AI Risk Catalog, compliance teams can deploy pre-built, regulator-aligned typologies that update in real time—cutting the lag between threat detection and action.
“We’re not just meeting today’s expectations,” said Zipporah Gitau, Group Chief Risk and Compliance Officer. “We’re building a dynamic compliance foundation that powers our growth.”
One Platform, All Use Cases
This isn’t a narrow fix. The AI rollout spans retail and corporate banking, trade finance, capital markets, investment banking, remittance, and e-wallet services. It even supports dynamic risk assessment, enabling I&M to calibrate its approach to high-risk customers or geographies in real time.
That level of sophistication was once reserved for global banks. Now, I&M Group becomes one of the first regional players in Africa to adopt enterprise-grade, AI-driven compliance at scale.
ThetaRay’s Global Playbook Hits Africa
For ThetaRay, this is more than another contract—it’s proof that its platform has the flexibility to serve banks in vastly different regulatory and operational environments.
“This is a model for how forward-thinking banks can stay resilient and build trust,” said Peter Reynolds, CEO of ThetaRay. “I&M Group is proving that AI-first compliance can be both a shield against financial crime and a catalyst for growth.”
With AI adoption in compliance gaining traction across Europe, North America, and the Middle East, the East African deployment by I&M Group marks a new chapter for AI in emerging markets, particularly where cross-border payments, digital wallets, and trade finance are ripe for exploitation by bad actors.
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