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SICO BSC (c), a leading regional asset manager, broker, and investment bank with a direct presence in Bahrain, the UAE, and Saudi Arabia, today announced the launch of its enhanced digital investment account opening service using eKey 2.0, Bahrain’s national digital identity framework. The new service enables clients to open investment accounts quickly and securely, reflecting SICO’s ongoing commitment to modernising its digital infrastructure, enhancing its services, and delivering a seamless digital client experience.
The new service enables clients to open investment accounts digitally, complete identity verification through eKey 2.0, apply for access to available markets and SICO investment funds, fund their accounts, and begin investing through a fully integrated digital experience. Trading in certain regional markets is activated instantly, while access to other available markets is enabled upon completion of the applicable regulatory requirements for each market.
The enhanced eKey 2.0 system leverages digital identity technologies and biometric authentication, including facial recognition and electronic Know Your Customer (eKYC) capabilities. This strengthens the security of digital transactions, accelerates identity verification, and supports compliance with the regulatory requirements applicable in the Kingdom of Bahrain.
Commenting on the launch, Mishal Alhellow, Group Chief Innovation Officer at SICO, said:
“The launch of our digital investment account opening service through eKey 2.0 reflects SICO’s commitment to delivering a more efficient and seamless digital investment experience by adopting the latest digital identity solutions. The integration of eKey 2.0 enables clients to open investment accounts entirely online through a secure and trusted verification process, making it easier to begin their investment journey from the very first step.
This service also represents another milestone in SICO’s ongoing efforts to strengthen its digital infrastructure and enhance the efficiency of its services, in line with Bahrain’s digital transformation agenda and its position as a leading regional financial and fintech hub. We also value our collaboration with Beyon and the Information & eGovernment Authority in delivering advanced digital identity solutions that simplify the client journey and improve the efficiency of digital services.”
The service is currently available to eligible clients residing in the Kingdom of Bahrain and will be extended to additional client segments in future phases. SICO offers a comprehensive range of asset management, brokerage, investment banking, and securities services, supported by investment research, and advanced digital platforms.
About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 8.1 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since its inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.
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