back Back

Oliver Wyman and GFT to build new Islamic digital bank in Malaysia

By Leandra Monteiro

March 02, 2022

  • Al Rajhi Bank
  • Digital Transformation
  • Gft
Share

Al Rajhi Bank, Malaysia, Oliver WymanThe global management consulting firm Oliver Wyman and technology and software engineering company GFT are supporting Al Rajhi Bank Malaysia (ARBM) to design, build and launch a cloud-based digital bank. To set new standards of excellence for Islamic banking in Malaysia, ARBM will undertake a complete digital redesign of their products, services, and channels for this new digital bank.

“We are tapping into the vast potential of innovation and partnering with key experts to provide added value to our customers and better serve the Malaysian market, and ARBM is seizing the opportunities in both digital banking and Islamic finance by striving to become the number one Islamic finance innovation bank in Malaysia,” said Arsalaan (Oz) Ahmed, Chief Executive Officer, ARBM.

“The architecture and technology stack we’ve recommended will allow ARBM to provide disruptive, mobile-first, and highly scalable banking services,” said Dan Jones, Partner, Oliver Wyman Digital.

“After our success with the mobile bank Mox in Hong Kong that was awarded the 2021 Celent Model Bank Award for Retail Digital Banking, we are thrilled to be collaborating with Oliver Wyman. GFT supports the design, build and launch of ARBM’s digital bank. This new digital bank will enable ARBM to respond to its clients’ needs for simpler, faster and better banking,” said Chris Ortiz, Global Markets and Region Manager APAC and UK at GFT.

“We have invested significantly in innovation as we lay the foundation of a customer-focused digital bank which offers best-in-class digital banking propositions and channels to benefit ARBM’s individual and business customers,” added Arsalaan (Oz) Ahmed.

Previous Article

March 02, 2022

Cheddar expands into Open Banking with its acquisition of Upside Saving

Read More
Next Article

March 02, 2022

LHV UK selects Tuum to provide its entire Core Banking infrastructure

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Al Rajhi Bank

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Data Zoo bags $22.7m in Series A from Ellerston JAADE to fuel global expansion

Read More

May 23, 2024

myTU launches Payouts API for businesses

Read More

May 22, 2024

CashFlo acquires Logitax to expand its Finance Automation & Compliance Suite

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023