Al Salam Bank B.S.C. selects BenchMatrix to implement Paperless Branch Banking – BenchMatrix

Al Salam Bank B.S.C. selects BenchMatrix to implement Paperless Branch Banking

Al Salam Bank B.S.C has selected BenchMatrix to implement Paperless Branch Banking. This solution includes retail customer on-boarding with direct integration with Benefit’s e-KYC solution, Bank’s AML system for sanction and PEP monitoring, electronic signature and electronic archival solutions. Frequent account maintenance activities are also automated to improve the customer experience and overall turnaround time.

The implementation of the Paperless Branch Banking solution coupled with the existing Finance Origination Credit Engine, provided by BenchMatrix, will speed up the credit approval routing and review processes for SME and Retail Banking segments. Through digitization of data input, the system will allow the Bank to eventually go completely paperless, enabling quick decision-making through a smart & centralized view of proposed and existing risks with required collaterals as well as a documentation checklist.

About Al Salam Bank

Al Salam Bank established its headquarters in the Kingdom of Bahrain in 2006 and has since cemented its reputation as the fastest growing bank in the Kingdom and a highly influential force in the Islamic banking industry on a regional level. The Bank was awarded Bahrain’s Best Domestic Bank in 2021 by Asiamoney Middle East, Best Islamic Retail Bank in 2020 & 2019 by the London-based Global Banking & Finance Awards.

Al Salam Bank offers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through its extended network of branches and ATMs. In addition to its diverse range of retail banking services, the Bank also provides corporate banking, private banking, asset management, international transaction banking as well as treasury services.

Licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain (CBB), Al Salam is listed on the Bahrain Bourse as the Trading Code “SALAM”, and on the Dubai Financial Market as the Trading Code “SALAM_BAH”.

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