Al Rajhi Bank selects Temenos for digital transformation

Wednesday 27 February 2019 13:43 CET | News

Temenos, the banking software company, has announced that Saudi Arabia-based Al Rajhi Bank has chosen Temenos to power its digital transformation.

The bank has opted for a complete renovation using Temenos T24 Transact as well as a host of additional digital solutions including Temenos Infinity and Temenos Loan Origination product.

Implementing Temenos software will enable the bank to introduce new lending products to the market and servicing its growing number of customers. The new solution will also support Al Rajhi Bank’s growth ambitions and its vision to bridge the gap between modern financial demands and intrinsic Islamic values, whilst spearheading numerous industry standards and development. 

The Temenos Islamic Banking Suite, coupled with its Saudi Model Bank application which includes global best practices and pre-configured local functions, will enable Al Rajhi Bank to cater for the specific Saudi regulatory requirements.

The bank operates in more than 570 branches across Saudi Arabia as well as in Kuwait, Jordan and Malaysia.

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Keywords: Al Rajhi Bank, Temenos, digital transformation, lending, financing , banking
Countries: World