AlRayan Bank has announced that it has successfully gone live with Finastra in order to deliver an optimised digital banking experience for corporates.
Following this announcement, by going live with Finastra Corporate Channels, the bank will optimise and streamline its corporate digital banking services. This platform is expected to enable the bank to offer a unified, secure, and consistent digital experience across all channels, while also improving operational agility and customer satisfaction.
In addition, by modernising its trade finance and cash management infrastructure, AlRayan Bank is now equipped to launch new and secure mobile-first capabilities, accelerate time-to-funds, as well as open new business opportunities while strengthening client retention.
More information on the AlRayan Bank x Finastra partnership
According to the official press release, IBC Solutions, a regional provider of banking services across the Middle East and Africa, led the implementation, which was completed in four months. At the same time, AlRayan Bank also upgraded to the latest release of Finastra Trade Innovation, aiming to ensure compliance with the ISO 20022 MX messaging standard. Both platforms support the bank’s Shariah-compliant services end-to-end, as well as its focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market.
Finastra’s Corporate Channels was developed as a modular digital banking solution that unifies trade, supply chain finance, cash management, financing, and treasury services for corporate clients. With embedded security tools, as well as regulatory compliance features and real-time data analytics, the platform is expected to give AlRayan Bank the possibility to adapt quickly to market needs, while delivering personalised and transparent services as well. Furthermore, the platform is API-enabled, facilitating secure and efficient integrations and highly configurable workflows.
The launch of the Corporate Channels represents an important part of the bank’s larger vision to further develop banking into a more efficient and more personalised experience.
