Kuwait Finance House-Bahrain (KFH-B) is implementing an automated reporting platform to enhance its regulatory transparency and streamline compliance operations.

The Islamic bank announced yesterday it has signed a strategic partnership with Codebase Technologies, open API banking solutions provider, for the implementation of ‘Digibanc RegReporting’, a fully-automated, end-to-end regulatory reporting platform.

The technology seamlessly integrates with multiple data sources and streamlines backend processing.

The implementation will enable the bank to respond to a rapidly-evolving regulatory environment, while ensuring compliant and consistent, precise reporting.

Yousif Alhammadi, executive manager and head of financial control and administration at KFH-B, commented: “With the growing role of technology in the banking and finance sector, institutions are forced to widen their technological footprint through collaborating with the right partners, in order to drive a competitive advantage within their institutions. With Codebase’s pioneering solution, we will be able to become leaders in the market, through accessing solutions and innovations that optimise our operations and allow us to maintain quality that match the expectations of our stakeholders and regulators. The partnership comes in line with the bank’s strategic efforts to migrate into a fully-digitised and automated model of operation.”

Raheel Iqbal, managing partner and global product head at Codebase Technologies, said: “We are proud to be Kuwait Finance House-Bahrain’s technology partner of choice to help achieve its digital ambitions, while enabling us to deliver premium digital financial services and reshaping the possibilities for the industry.”

https://www.zawya.com/mena/en/business/story/Kuwait_Finance_HouseBahrain_launches_automated_reporting_platform-SNG_216008470/