Alinma Financial institution has partnered with IBM to improve its IT infrastructure and launch a brand new digital platform that improves providers for fintech and SME shoppers.
Saudi Arabia-based Alinma Financial institution, based in 2006, has adopted IBM’s hybrid cloud and AI integration applied sciences so as to introduce an software programming interface (API) platform.
Alinma Financial institution’s centralised API repository at the moment serves as a mission-critical element throughout the Financial institution’s IT structure, supporting practically all banking channels, from retail to B2B.
The IBM collaboration
Alinma Financial institution has applied IBM’s applied sciences, together with Cloud Pak for Integration and Purple Hat OpenShift on IBM Cloud, to reinforce its API platform, offering a safe and scalable infrastructure for fintechs and SMEs.
This centralised API market simplifies knowledge entry, supporting Alinma’s position in Saudi Arabia’s digital financial system and aligning with its 2025 Transformation Technique to create new income streams and supply superior digital options.
The platform additionally integrates IBM’s API Join for environment friendly administration of onboarding, pricing, and fee processes, guaranteeing compliance and consistency throughout all knowledge entry factors. This collaboration boosts Alinma Financial institution’s functionality to satisfy regulatory requirements whereas adapting to the altering calls for of the fintech sector with customer-centric providers.
Supporting progress and resilience
“IBM is a worthwhile, trusted companion in our journey to turning into one of many kingdom’s most agile and responsive monetary establishments,” mentioned Yasser AlOufi, chief info officer at Alinma Financial institution. “As an innovation-driven financial institution, we’re devoted to delivering world-class choices that empower our shoppers and companions to succeed.
“Our new API platform exemplifies this focus, offering company prospects and fintech companions with aggressive, safe, and accessible digital providers that assist their progress and resilience.”
Fahad Alanazi, common supervisor, IBM Saudi Arabia, additionally commented: “We’re honored to be a know-how companion in Saudi Arabia’s digital transformation, dedicated to offering options that meet our shoppers’ wants and contribute to the nation’s success.
“For years, we now have labored to do precisely that, and at present, as we advance into an more and more digital period, we’re much more dedicated to making sure that main entities reminiscent of Alinma Financial institution are finest positioned to perform their future objectives. Our collaboration on the API Monetisation platform unlocks higher potential for Saudi fintechs and SMEs. We stay up for our continued partnership as Alinma paves the way in which for innovation within the Kingdom’s monetary providers sector.”
Recognising the transformative potential of the know-how in Saudi Arabia, The Fintech Occasions delves into the progress, plans and way forward for open banking in serving to the nation diversify its financial system, promote monetary inclusion, and appeal to international direct funding in our new white paper.
