Arab International Bank (AIB)
is located in Cairo, Egypt. It was
established in 1974 by an international
treaty among the governments of
the Arab Republic of Egypt, Libya, the
Sultanate of Oman, the State of Qatar,
and the United Arab Emirates.
AIB defines its purpose as “to carry
out all the banking, financial, and
commercial activities related to the
projects of economic development
and foreign trade, especially for the
interest of the member states, other
countries, and the Arab countries.” As
such, AIB aims to achieve excellence,
establishing strong and lasting
relationships with its current and
potential customers.
In the interest of progress and
performance, AIB needed to modernise
its customer information management,
specifically by upgrading its know your
customer (KYC) data and processes. It
looked to Iron Mountain InSight Content
Management for digital transformation
solutions. The team’s global experiences
make it uniquely positioned to handle
the complexity and scale of digital
transformation projects via a flexible
and customised approach.
Caring for customer files
AIB carefully operates its branches,
services, and products, taking all
necessary precautionary measures
for the safety of its clients and
employees. The approach extends
beyond customer experience to
include the secure management of
customer information. AIB furthered
this objective by adopting the InSight
Content Management solution for
managing know your customer (KYC)
files, and other crucial data.
Now, AIB can provide customers
with faster onboarding and improved
experiences, such as immediate
sign-up and real-time access to
personal profiles. The digital KYC
solution provides one-time password
authentication of SMS/email, and
keeps records secure in an electronic
document management system.
By partnering with the Iron Mountain
team, AIB was able to digitise 3M+
backfiles for 300 customers across
22 branches. Customer files, trade
batches, and trade finance documents
have been digitised with physical
backfile records safely stored. Files
have been classified and indexed for
easy access and accurate support of
compliance reporting.
Automating employee
workflows
Leveraging the InSight Content
Management solution workflow
management solution, AIB automated
its branches’ KYC and customer
onboarding processes. AIB is now
providing uninterrupted automation
of employee workflows. In addition,
paper-based business processes
have been transformed into a fully
integrated digital environment.
Digital transformation provides
benefits such as accelerated decision-
making for employees and managers,
shorter transaction queues and
completion times for customers,
and more effective communication
throughout the company. Automation
helps reduce costs, increase efficiency,
and improve data accuracy.
Achieving banking excellence
Like many banks, AIB grappled with
the inefficiencies and vulnerabilities
inherent in paper-based processes.
Digitising document management
helps to mitigate those inefficiencies
and risks. AIB is also using
automated processes to boost
efficiency, regulatory compliance,
and data security.
At AIB, digital transformation will
help the bank ensure excellence in
employee performance and customer
relationships. With a modern approach
to data management, customer
information is more accessible and
secure across all 22 AIB branches.
