Saudi Arabia's Bank Albilad taps Intellect for Cash Management Transformation in Kingdom
In a significant move towards economic diversification and innovation, Saudi Arabia's Vision 2030 is being realised through a partnership between eMACH.ai and Bank Albilad. This collaboration is set to revolutionise wholesale banking in the kingdom by providing smarter, more efficient, and customer-centric banking services.
The transformation is powered by eMACH.ai's Digital Transaction Banking platform, which offers AI-driven insights to enhance the customer experience, streamline cash management, and reduce operational costs via intelligent automation. This partnership introduces composable microservices for agility and scalability, enabling real-time AI-based decision making, and lowering transaction costs.
One of the key benefits of this alliance is the ability to offer superior self-service to corporate customers. Bank Albilad provides a single-point login, enabling effective cross-selling and up-selling of products, acquisition of new customers across customer segments, and a foundation for digital self-service. The bank also offers mobile excellence, providing secure, enterprise-grade mobility solutions that offer integrated, contextual access to financial and operational tools for customers, enabling secure financial management anytime, anywhere.
The fully digitised self-service payments workflow offers a workflow with embedded FX capabilities, unified dashboards for financial oversight, and superior client support. This partnership aims to redefine wholesale banking in Saudi Arabia through advanced automation, digital agility, and customer-centric solutions.
True personalisation is another aspect of the transformation. Bank Albilad utilises over 100 APIs with contextual actions aligned to individual personas, allowing for quicker and more cost-effective delivery of new products and services. The investments made in this partnership will secure Bank Albilad's leadership in the Saudi market.
Manish Maakan, CEO of Wholesale Banking at Intellect Design Arena Ltd., commented on the partnership, stating that the eMACH.ai Digital Transaction Banking platform will enable Bank Albilad to offer smarter, more efficient services to corporate clients, enhancing customer experience and delivering differentiated cash management experiences.
The transformation also aligns with Saudi Arabia's ongoing digital transformation and Vision 2030, setting a new benchmark for corporate banking in the region. It aims to create business impact, drive efficiencies, enhance user experience, and define the future of banking. Higher automation and lower TCO are also achieved through intelligent automation and process optimisation, enabling faster customer onboarding with high volume data migration.
In addition to the eMACH.ai partnership, Bank Albilad is also partnering with Intellect Design Arena Ltd. for digital banking capabilities. This is the fourth digital transformation initiative in Saudi Arabia's wholesale banking for Intellect Design Arena Ltd., further strengthening their position as a trusted technology leader in the GCC. eMACH.ai provides tailored solutions and contextual intelligence for the Saudi market landscape.
In conclusion, the partnership between eMACH.ai and Bank Albilad is a significant step towards modernising wholesale banking in Saudi Arabia. It embodies the spirit of innovation, operational efficiency, and enhanced client engagement that is central to Saudi Arabia's Vision 2030.
- This collaboration between eMACH.ai and Bank Albilad, as reported on ffnews.com, is not only revolutionising wholesale banking in the kingdom but also aligns with Saudi Arabia's Vision 2030, setting a new benchmark for corporate banking in the region, by providing smarter, more efficient, and customer-centric banking services, enabled by technology.
- eMACH.ai's partnership with Bank Albilad, as highlighted in the news, focuses on enhancing the customer experience and delivering differentiated cash management experiences through advanced automation, digital agility, and customer-centric solutions in the finance and technology sectors, thereby creating business impact and redefining wholesale banking in Saudi Arabia.
