Al Rayan Bank goes live with Finastra Corporate Channels

By Vriti Gothi

Al Rayan Bank, taps Finastra‘s Corporate Channels, delivering a seamless and unified digital banking experience for its corporate customers. The deployment, completed in just four months in collaboration with IBC Solutions, marks a major milestone in the bank’s digital transformation journey and underlines its commitment to customer-centric innovation and Shariah-compliant excellence.

The new platform equips corporate clients with secure, consistent, and mobile-first access to trade finance, supply chain finance, cash management, and treasury services. In parallel, the bank upgraded to the latest release of Finastra Trade Innovation, modernising its infrastructure, accelerating transaction processing, and enhancing operational agility. The upgrade also ensures full compliance with the ISO 20022 MX messaging standard, delivering efficiency improvements and future-proofing the bank’s trade finance operations.

“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 Al Rayan Bank. “The platform provides us with the flexibility and scalability to meet evolving market demands while delivering secure, innovative, and client-centric trade finance and cash management services. We have expanded our long-standing partnership with Finastra based on the richness of its functionalities, ease of integration, and rapid deployment. More importantly, this transformation directly supports our goal to be the most trusted, Shariah-compliant financial institution at the forefront of innovation in Islamic banking.”

Houssam Itani, Group Chief Transformation Officer at Al Rayan Bank, said, “At Al Rayan Bank, we are committed to driving our transformation in a way that genuinely benefits our 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.”

Manish Joshi, Vice President, APAC and EMEA, Lending at Finastra, said, “Al Rayan Bank has been a valued partner for over 16 years. The successful go-live of Corporate Channels highlights our 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 Al Rayan Bank in unlocking new growth opportunities and advancing its innovation journey in Islamic finance.”