Al Rajhi Bank Malaysia (ARBM) has selected Thought Machine to power its upcoming next-generation digital bank.
Thought Machine’s core banking engine, Vault, will provide the backbone for the new digital offering, which will launch this year with a range of retail and SME financial services, such as savings and financing products.
Thought Machine says that Vault’s product building capabilities will also help ARBM out together a full suite of Shariah-compliant products.
Arsalaan Ahmed, CEO, ARBM, says: "We are tapping into the vast potential in technology offered by our key partners to help advance towards our vision of becoming the #1 Islamic finance innovation bank in Malaysia."