Riyadh, Saudi Arabia, 28 February 2024: Alinma Bank, a leading bank in Saudi Arabia, selected IBM to launch a comprehensive suite of modern banking applications, offering the bank a new platform to provide their customers greater access to a range of cutting-edge digital solutions and enhance the bank’s digital transformation efforts.

The new platform connects existing systems with new offerings using advanced AI and IBM’s hybrid cloud approach to deliver seamless integration. It also includes IBM Cloud Pak® for Integration built on Red Hat OpenShift and IBM API Connect®, which allows the bank to manage and secure proprietary application programming interfaces (APIs) – the building blocks of modern digital experiences.

"IBM's expertise in cutting-edge technology was a key factor in our decision," said Yasser AlOufi, CIO of Alinma Bank. "We're committed to continuous improvement, and collaborating with IBM will help us achieve our ambitious goals."

“Our success is measured by our ability to enhance our clients’ business, making them faster, reliable productive, and secure,” said Fahad Alanazi, General Manager, IBM Saudi Arabia. “Our work with Alinma Bank solidifies our commitment to serve as a partner to the Kingdom’s success in-line with Vision 2030. We aim to play a leading role in driving the country’s digital transformation, empowering our clients and partners to improve the quality of their products and services and fulfil their full potential.”

Designed to drive digital transformation, IBM technology will provide Alinma with enhanced capabilities in building user-friendly, innovative, banking apps for Saudi consumers, resulting in faster delivery, improved security, and best-in-class convenience for bank customers. This tightly aligns with Alinma Bank’s Strategy 2025 initiative, which focuses on exceeding customer expectations. Additionally, IBM’s integration technology supported Alinma Bank to develop its own API management platform which enables the bank to centralize control over its API integrations, while meeting high performance and security standards.

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About Alinma Bank

Alinma Bank is a market leader in dynamic and innovative Shariah-compliant banking and financial services. The bank delivers its services with the speed and convenience that customers require in their busy modern lives.

Founded in 2006, Alinma Bank has a strong track record of supporting the national economy and helping individuals and businesses achieve their goals and aspirations. As a full-service financial institution, the bank serves individuals, corporates, and SMEs alike with a comprehensive range of products and services, including auto, home, and personal financing, individual and corporate current accounts, saving accounts, card services, corporate financing, auto leasing, and much more.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.