AlRayan Bank headquarters. By modernising its trade finance and cash management infrastructure, AlRayan Bank is now equipped to launch new mobile-first capabilities, accelerate time-to-funds, and open new business opportunities while strengthening client retention.
This next-generation platform enables the bank to offer a unified, secure and consistent digital experience across all channels, while improving operational agility and customer satisfaction.
By modernising its trade finance and cash management infrastructure, AlRayan Bank is now equipped to launch new mobile-first capabilities, accelerate time-to-funds, and open new business opportunities while strengthening client retention.
IBC Solutions, a regional provider of banking services across the Middle East and Africa, led the implementation, which was completed in just four months.
During the same period, AlRayan Bank also upgraded to the latest release of Finastra trade innovation, ensuring compliance with the ISO 20022 MX messaging standard. Both platforms support the bank’s Shariah-compliant services end-to-end.
“Going live with corporate channels is a major step forward in our strategy to offer best-in-class digital services to our corporate clients,” said Omar al-Emadi, acting Group chief executive officer of AlRayan Bank.
The platform provides the bank with the flexibility and scalability to meet evolving market demands while delivering secure, innovative, and client-centric trade finance and cash management services, he said, adding “we have expanded our long-standing partnership with Finastra based on the richness of its functionalities, ease of integration, and rapid deployment.”
Houssam Itani, Group chief transformation officer at AlRayan Bank, said the bank is committed to driving transformation in a way that genuinely benefits customers.
“The launch of the corporate channels is part of our larger vision to transform banking into a smoother, more efficient, and more personalised experience. It is also a testament to our improved ability to launch market leading products faster and smoother,” he added.
Finastra’s corporate platform is a modular digital banking solution that unifies trade, supply chain finance, cash management, financing, and treasury services for corporate clients.
With embedded security tools, regulatory compliance features, and real-time data analytics, the platform enables AlRayan Bank to adapt quickly to market needs while delivering personalised and transparent services. The platform is API-enabled, facilitating seamless integrations and highly configurable workflows.
AlRayan Bank also recently selected Finastra’s Essence core banking solution and continues to utilise the Opics treasury management platform, further demonstrating the bank’s deepening collaboration with Finastra.
Highlighting that AlRayan Bank has been a valued partner for more than 16 years, Manish Joshi, vice president (APAC and EMEA), Lending at Finastra, said the successful go-live of corporate channels highlights its shared vision of co-innovation and digital transformation.
“We are proud of the speed and quality of delivery, achieved in close partnership with IBC Solutions, and we look forward to supporting AlRayan Bank in unlocking new growth opportunities and advancing its innovation journey in Islamic finance,” according to him.
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