I&M Bank, a key subsidiary of I&M Group PLC and one of East Africa’s leading regional financial institutions, has announced a strategic partnership with global AI compliance leader ThetaRay.
This collaboration will see the rollout of ThetaRay’s advanced Cognitive AI-powered Anti-Money Laundering (AML) platform across the Group’s banking operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius.
By integrating ThetaRay’s next-generation AML system, I&M Bank is taking a bold step to modernise and unify its financial crime compliance infrastructure. This marks a major shift from traditional siloed systems to a single intelligent platform that spans the entire compliance lifecycle—from customer onboarding and sanctions screening to risk assessment, transaction monitoring, case investigation, and regulatory reporting.
According to Jamie Loden, Chief Operating Officer at I&M Bank, the move to ThetaRay’s system represents more than just a technology upgrade.
“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.”
A Future-Ready Compliance Model for a Growing Region
The partnership aligns with I&M Group’s strategic goals of strengthening its regulatory posture and supporting scalable growth across East Africa. In a region where compliance requirements are growing more complex and where central banks are increasingly pushing for data-driven oversight, this collaboration gives I&M a distinct competitive advantage.
Zipporah Gitau, Group Chief Risk and Compliance Officer at I&M Group, elaborates on the importance of the new platform:
“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.”
Comprehensive Coverage Across Services and Markets
The ThetaRay platform will support a broad spectrum of I&M’s financial services, including retail and corporate banking, trade finance, capital markets, investment banking, remittances, and digital wallets. This end-to-end capability ensures I&M Bank can manage compliance seamlessly across different jurisdictions and service lines.
The rollout will also feature ThetaRay’s Generative AI Risk Catalog, an industry-first innovation that equips compliance teams with pre-built, explainable, and regulator-aligned risk typologies. These are continuously updated, allowing I&M to stay ahead of new threats and regulatory expectations.
This AI-powered framework enables institutions to identify suspicious activity with greater accuracy, reducing false positives while maintaining a strong compliance posture. Unlike legacy systems that require extensive manual configuration, ThetaRay’s platform is adaptive and ready for rapid deployment.
Operational Excellence and Strategic Agility
Peter Reynolds, CEO of ThetaRay, praised I&M Group’s forward-thinking approach:
“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.”
ThetaRay’s system is also expected to deliver significant operational efficiencies, freeing compliance teams from manual reviews and fragmented processes. Through a single view of compliance data and streamlined workflows, I&M Bank will be better positioned to detect and respond to threats in real time—crucial in a digital-first world where money laundering tactics are becoming more sophisticated.
Setting a Benchmark in the Region
This partnership marks a pivotal moment in East Africa’s financial sector, where regulatory expectations are rising and fintech innovations are redefining how financial institutions operate. I&M Bank’s adoption of ThetaRay’s platform not only ensures compliance with evolving laws but also enhances customer trust and institutional resilience.
By embedding intelligent risk management across its operations, I&M Bank is establishing itself as a leader in responsible banking and digital transformation. The deployment of ThetaRay’s AML platform signals a strong commitment to building a secure, transparent, and future-ready financial system for East Africa.
