Saudi Arabia's Bank Albilad selects Intellect to revamp cash management in the Kingdom
In a significant move towards digital innovation, Bank Albilad has announced a partnership with Intellect Design Arena Ltd. This collaboration aims to modernize wholesale banking in Saudi Arabia, further aligning with the Kingdom's Vision 2030, which focuses on economic diversification and innovation.
The partnership, marking Intellect's fourth digital transformation initiative in Saudi Arabia's wholesale banking, strengthens Intellect's position as a trusted technology leader in the GCC.
Bank Albilad's digital banking capabilities, powered by Intellect's First Principles based eMACH.ai platform, will offer a host of benefits. These include superior self-service, with a single-point login for corporate customers, enabling effective cross-selling and up-selling of products and acquisition of new customers across customer segments.
The digital cash management system will aim to drive better customer experience and deposit growth. Mobile Excellence will provide secure, enterprise-grade mobility solutions for integrated and contextual access to financial and operational tools, enabling secure financial management anytime, anywhere.
The eMACH.ai Digital Transaction Banking platform will offer smarter, more efficient services to corporate clients, with AI-driven insights enhancing customer experience and delivering differentiated cash management experiences.
The partnership will also enable faster customer onboarding with high volume data migration and improved operational efficiency through intelligent automation and process optimisation. This will lead to lower Total Cost of Ownership (TCO).
Manish Maakan, CEO of Wholesale Banking at Intellect Design Arena Ltd., commented on the partnership, saying, "The partnership aligns with the Kingdom's ongoing digital transformation and Saudi Vision 2030, and will enable Bank Albilad to offer smarter, more efficient services to corporate clients."
The investments made in this partnership will help secure Bank Albilad's leadership in the Saudi market. eMACH.ai provides tailored wholesale banking solutions aligned with the Kingdom's strategic industry requirements.
The transformation is not just about technology. It is about delivering customer-centric and future-ready solutions. The fully digitised self-service payments workflow will deliver a digitised payments workflow with embedded FX capabilities and unified dashboards for financial oversight.
This collaboration between Bank Albilad and Intellect Design Arena sets a new benchmark for corporate banking in the region. Through advanced automation, digital agility, and customer-centric solutions, the partnership aims to redefine wholesale banking in Saudi Arabia, setting a new standard for the industry.
In addition, Bank Albilad will leverage 100+ APIs to offer tailored products and services to individual customers, enabling faster and more cost-effective delivery. The eMACH.ai platform will provide AI-driven insights to enhance customer experience and deliver differentiated and trusted cash management experiences.
Overall, eMACH.ai acts as both the technological backbone and strategic enabler of Bank Albilad’s wholesale banking digital overhaul, driving a paradigm shift towards smarter, more agile, and customer-focused banking in Saudi Arabia.
[1] Bank Albilad Press Release, [Date] [2] Intellect Design Arena Ltd. Press Release, [Date] [3] Saudi Vision 2030, [Link] [4] Saudi Arabian Monetary Authority, [Link]
- The collaboration between Bank Albilad and Intellect Design Arena will see Bank Albilad's digital banking capabilities enhanced through the use of Intellect's eMACH.ai platform, providing superior self-service, financial agility, and a customer-centric approach, as reported on ffnews.com.
- This partnership, in line with Saudi Vision 2030, will position Intellect Design Arena as a leader in finance and technology within the GCC, with Bank Albilad leveraging 100+ APIs and AI-driven insights to offer tailored banking solutions, as detailed in their respective press releases. [1] [2]
