Bahrain based Al Salam Bank and 10XDS (Exponential Digital Solutions) have introduced a robotics process automation solution on both blocked and unblocked accounts within its compliance framework.
This comes as part of the bank’s efforts to comply with the regulatory requirements issued by the legislative authorities in Bahrain, represented by the Ministry of Justice, Islamic Affairs and Waqf, and the Central Bank of Bahrain (CBB).
The robotic process automation is being implemented in high volume compliance back end operations. These were previously carried out manually. With the implementation, Al Salam Bank can better focus on high-impact strategic tasks by freeing up their back-end operations teams. This comes in line with the bank’s digitisation strategy, adding to its portfolio of digital banking services and products.
Abdulkarim Turki, Chief Operating Officer at Al Salam Bank, said: “This solution will enable the automated extraction and processing of backend routine tasks in order to more effectively meet the requirements of the Kingdom’s local authorities and regulatory bodies. This, in turn, will lead to an increase in efficiency, accuracy, and speed in terms of processing-time. We look forward to the automation of other back-office processes in the near future as part of the bank’s agile three-year digitisation strategy.”
This step is in parallel with the bank’s guiding principle ‘Be Digitally Native’, which constitutes smart and efficient banking services through adopting a digital, solution-driven mind-set in order to provide clients with an enriched banking experience characterised by convenience, simplicity, and efficiency.
10xDS is specialised in delivering RPA solutions that support the continuous development of organisations through the automation of complex, end-to-end operational activities in an IT endorsed environment.
