Al Rajhi Bank, Saudi Arabia’s second largest bank by assets has chosen Temenos to power its digital transformation journey.

In addition, Temenos will enhance the Islamic lending and financing product capabilities of Al Rajhi, the world’s largest Islamic bank.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Specifically, Al Rajhi Bank is opting for a complete core banking renovation using Temenos T24 Transact. It will also deploy additional digital solutions including Temenos Infinity and Temenos Loan Origination product.
The bank says that implementing Temenos software will enable it to introduce new lending products to the market. And it says it will service its growing number of customers more quickly and efficiently.

The bank aims to grow while bridging the gap between modern financial demands and intrinsic Islamic values.

Al Rajhi Bank: 570 branch strong network

Al Rajhi Bank operates in more than 570 branches across Saudi Arabia as well as in Kuwait, Jordan and Malaysia.

Waleed Al Mogbel, DCEO, Al Rajhi Bank, says: “We are delighted to appoint Temenos as our strategic technology partner for our digital transformation. Temenos digital banking platform will enable us to transform faster, drive out complexity and lower overall total cost of ownership. Temenos has a worldwide reputation for robust, innovative banking software and an extensive presence and commitment in the Saudi Arabia.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“With Temenos we will be able to introduce new and innovative products more quickly and help reduce operational costs. And offer cutting-edge digital experiences to our customers.”

Jean-Paul Mergeai, MD, Middle East & Africa, Temenos says:””We are proud to announce Al Rajhi as our latest signing. Temenos has a strong footprint in Saudi Arabia with 19 clients. This further cements our presence in a country where we have been operating since the late nineties.

“Our agreement with Al Rajhi Bank demonstrates our commitment to working with the region’s leading banks to power innovation, growth and success through our market leading technology.”