ruya and Magure Partner to Build AI-Native Banking Model

ruya, a UAE digital-first Islamic community bank, has entered a long-term strategic partnership with Magure, an enterprise AI company based in the UAE. The goal is an “AI-native” banking model, with intelligence embedded across customer service, operations and risk management rather than delivered as standalone projects.

Christoph Koster, ruya’s CEO, said the bank did not set out to run AI projects. “We set out to build a bank where intelligence is part of the foundation,” he said. As a Shari’ah-compliant bank, ruya holds itself to a high standard in how technology treats customers and their data; the partnership lets it move fast on AI without compromising that standard.

Three agentic AI use cases are already live in production. One covers business customer onboarding: AI handles document analysis, verification checks and case summaries, leaving the bank’s team to focus on decision-making. AI is also processing several everyday transactions, with human reviewers retaining responsibility for key decisions.

The AI runs entirely within ruya’s private cloud, using open-source large language models integrated with existing systems. ruya keeps full ownership and control, and personally identifiable information stays inside the bank’s infrastructure.

Akhil Koka, Magure’s CEO, said every bank is buying AI, but very few are built for it. ruya, he said, has no legacy core to fight and leadership willing to make intelligence foundational. “What’s live today isn’t a pilot or a demo. It’s production AI doing real work inside a regulated bank, every day.”

Platform and roadmap

At the center of the partnership is MagOneAI, Magure’s agentic AI platform, which provides a common infrastructure across customer service, operations, risk and compliance, and employee functions. The three live applications are expected to be the first in a wider portfolio that includes collections, compliance, credit support, customer analytics and personalization, and an AI-powered customer assistant.

It also includes RuyaAI, a secure private assistant for employees, grounded in the bank’s own knowledge base. New applications on the same governed platform can reach production within weeks rather than months, with actions auditable across the system.

“The hardest part is behind us: the platform, the governance and the sovereign foundation are in place,” Koka said. “From here, every new capability ships on rails that already exist. This is a long-term partnership, and we’re just getting started.”

Governance

MagOneAI has human review and approval points built into workflows, so people keep final responsibility for high-impact decisions. The platform also includes role-based access controls, centralized monitoring, cost tracking and audit trails. Magure holds ISO 9001, ISO 27001 and ISO 42001 certifications, plus SOC 2 Type II attestation.

For ruya, the wider aim is faster, more personalized banking. Koster said customers should feel this as a bank that “simply moves faster and knows them better,” with accounts opened quickly, transactions processed without delay and service that doesn’t sleep. He said AI should be invisible where it should be, and accountable everywhere.

ruya is headquartered in Ajman and launched in 2024, licensed by the Central Bank of the UAE as a Specialised Bank. Magure is DIFC-registered and based in Dubai, with delivery centers in India and a US presence. It reports more than 80 enterprise customers and over 60 AI deployments in production.