AlRayan Bank has taken a major step toward enhancing its digital infrastructure with the successful launch of Finastra Corporate Channels. The new platform delivers a unified, secure, and seamless digital experience across multiple channels, aimed at improving efficiency and client satisfaction.
With its upgraded trade finance and cash management capabilities, the bank can now introduce mobile-first features, speed up access to funds, and drive business growth while maintaining strong client relationships.
The implementation was carried out by IBC Solutions, a regional banking services provider in the Middle East and Africa, and was completed in just four months. During this period, the bank also upgraded to the latest release of Finastra Trade Innovation, ensuring compliance with the ISO 20022 MX messaging standard. Both solutions support AlRayan Bank’s Shariah-compliant financial services.
Leadership Insights
Omar Al Emadi, Acting Group Chief Executive Officer of AlRayan Bank, emphasized the importance of this milestone:
“Going live with Corporate Channels is a major step forward in our strategy to deliver best-in-class digital services to our corporate clients. The platform provides us with flexibility, scalability, and security while enabling us to meet evolving market demands. We value our long-standing partnership with Finastra for its powerful functionalities, ease of integration, and rapid deployment.”
About Finastra Corporate Channels
Finastra’s Corporate Channels is a modular digital banking solution designed to unify trade, supply chain finance, cash management, financing, and treasury services for corporate clients. It comes equipped with embedded security tools, compliance features, real-time analytics, and API-enabled workflows for seamless integration and configurability.
Expanding Collaboration with Finastra
AlRayan Bank has also recently adopted Finastra’s Essence core banking solution while continuing to use the Opics treasury management platform, reinforcing its commitment to digital transformation and innovation in Islamic banking.
Manish Joshi, Vice President of Lending for APAC and EMEA at Finastra, highlighted the strength of the partnership:
“AlRayan Bank has been a valued partner for more than 16 years. The successful go-live of Corporate Channels reflects our shared vision of co-innovation and digital growth. Together with IBC Solutions, we are proud to have delivered this project swiftly and efficiently, and we look forward to supporting the bank as it continues to innovate and expand within Islamic finance.”
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