Riyadh – Sharikat Mubasher: Alinma Bank teamed up with IBM to enhance its IT infrastructure through advanced hybrid cloud and AI integration, marking a significant step in its digital transformation journey.
As part of this collaboration, the bank has launched a next-generation API platform, designed to streamline financial services, foster fintech innovation, and align with Saudi Arabia’s Vision 2030 and Alinma’s 2025 Transformation Strategy, as per an official press release.
The API platform, built using IBM Cloud Pak for Integration, API Connect, and Red Hat OpenShift, serves as a secure, scalable ecosystem that facilitates seamless integration for fintechs, SMEs, and corporate clients. By centralizing critical banking data and services, the platform enables faster onboarding, pricing automation, and efficient payment processing, strengthening Alinma’s role as a leader in fintech innovation. Additionally, the platform introduces paid API services, unlocking new revenue streams and reinforcing the bank’s position in Saudi Arabia’s digital economy.
Yasser AlOufi, Chief Information Officer at Alinma Bank said: “With IBM’s support, we are creating an agile, innovation-driven banking environment that empowers our corporate clients and fintech partners. This API platform is a testament to our commitment to providing secure, accessible, and competitive digital services that drive growth and resilience.”
Fahad Alanazi, IBM’s General Manager for Saudi Arabia, emphasized the company’s role in supporting Saudi fintechs and SMEs. He said: “Our collaboration with Alinma Bank on API monetization unlocks new potential for the financial sector. As Saudi Arabia accelerates its digital transformation, IBM remains committed to providing cutting-edge solutions that empower leading institutions to achieve their goals.”
This partnership not only strengthens regulatory compliance and cybersecurity measures but also positions Alinma Bank at the forefront of Saudi Arabia’s evolving financial services landscape, ensuring it remains a key player in the Kingdom’s digital future.
