Alinma Bank, a leading financial institution in Saudi Arabia, has partnered with IBM to implement advanced hybrid cloud and AI technologies. This initiative enhances the bank’s IT infrastructure, enabling the launch of a state-of-the-art Application Programming Interface (API) Platform. The move aligns with Saudi Arabia’s Vision 2030, emphasizing digital transformation and financial innovation.
Advancing Digital Banking with a Centralized API Repository
Alinma Bank has achieved a high level of maturity in modern agile integrations. Its centralized API repository plays a crucial role in the bank’s IT ecosystem, supporting various banking channels, including retail and B2B services. This transformation aligns with Alinma’s 2025 Strategy, which focuses on generating new revenue streams and providing fintech companies and corporate clients with secure access to innovative digital solutions.
Through IBM’s Cloud Pak® for Integration, IBM API Connect®, Red Hat OpenShift on IBM Cloud, and IBM DataPower, the new API platform delivers a secure, scalable, and high-performance infrastructure. This enables fintech startups and SMEs to integrate banking services effortlessly, enhancing user experience and expanding Alinma’s reach within the financial sector.
Enabling Fintech Growth with API Monetization
The centralized API marketplace allows fintechs to seamlessly access critical financial data, fostering innovation and growth. By introducing API monetization, Alinma Bank is creating new revenue opportunities while strengthening its leadership in Saudi Arabia’s digital economy.
IBM’s API Connect plays a pivotal role in streamlining system integration, covering essential banking functions such as onboarding, pricing, and payments. Additionally, Red Hat OpenShift’s scalable deployment capabilities ensure compliance and security while optimizing API lifecycle management.
A Secure and Future-Ready Banking Ecosystem
This collaboration enables Alinma Bank to meet regulatory requirements for data security and privacy, ensuring compliance with industry standards. By leveraging IBM’s cutting-edge solutions, Alinma is well-positioned to adapt to evolving fintech demands while offering modern, customer-centric digital services.
“IBM is a trusted partner in our journey to becoming one of Saudi Arabia’s most agile and innovative financial institutions,” said Yasser AlOufi, Chief Information Officer at Alinma Bank. “Our API platform empowers our clients and fintech partners with secure, seamless access to advanced banking services, driving their success and resilience.”
“At IBM, we are honored to support Saudi Arabia’s digital transformation by providing technology solutions that fuel innovation,” said Fahad Alanazi, General Manager, IBM Saudi Arabia. “Our partnership with Alinma Bank enables
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on fintech innovations, regulatory developments, industry insights, events, and collaborations between banks, insurers, and fintechs. A platform for C-level executives to submit thought leadership content for their peers. Subscribe for updates!
