a global cognitive Artificial Intelligence (AI) financial crime compliance company, has partnered with I&M Group to deploy its advanced Anti-Money Laundering (AML) platform across Kenya, Rwanda, Tanzania, Uganda, and Mauritius.
In a joint statement released yesterday, the two businesses stated that this implementation replaces siloed systems with a unified, AI-driven compliance framework that includes on-boarding, transaction monitoring, risk assessment, and more.
They went on to say that the move is a significant step forward for financial crime prevention and regulatory innovation in East Africa, and it includes the first regional deployment of ThetaRay's Generative AI risk catalogue.
The GenAI-driven risk catalogue enables institutions to add risk indicators and generate visual reports on demand.
It additionally enables for continuous monitoring of AML threats based on public data sources, as well as automated narrative generation for suspicious activity reports.
The platform's launch will include significant use cases such as retail and corporate banking, trade finance, investment banking, capital markets, remittances, and e-wallets.
For I&M, combining various procedures into a single unified system would enable the organisation to transition from fragmented and manual compliance activities to a centralised, AI-powered framework capable of expanding across multiple jurisdictions and business lines.
Commenting on the partnership, Jamie Loden, I&M Bank chief operating officer, said: “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."
Zipporah Gitau, Group chief risk and compliance officer at I&M Group, added: “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.
“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.”
Furthermore, 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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