Al Rajhi Bank Malaysia builds digital banking with Thought Machine's help

Tuesday 25 January 2022 10:48 CET | News

Al Rajhi Bank Malaysia (ARBM) has selected Thought Machine, the cloud native core banking technology firm, to power their upcoming next-generation digital bank.

ARBM embarked on a multi-year digital transformation in 2021 and the bank will deploy Thought Machine’s core banking engine, Vault, to launch a new digital bank in 2022 with a range of retail and SME financial services, such as savings and financing products.

The design of the Vault platform will help ARBM to deliver on their ambitions and launch an end-to-end next-generation bank. The bank will use Vault’s Universal Product Engine to design, launch, and manage a full suite of products on a single architecture.

Al Rajhi Bank Malaysia is building a full suite of Shariah-compliant products and Vault’s product building capabilities will be instrumental in allowing the bank to build and offer services tailored to their customers’ individual needs.

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Keywords: partnership, digital banking, cloud banking, online banking
Categories: Banking & Fintech
Countries: Malaysia
This article is part of category

Banking & Fintech

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