Al Rajhi Bank Selects Moneythor to Power Personal Finance Features

  • Solutions enable ARBM to deliver personalized customer experiences
  • In line with ARBM’s ambition to become the number 1 Islamic bank in M’sia

Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia, has selected Moneythor, a digital banking solutions provider, to implement innovative personal financial management (PFM) features in its upcoming digital bank in Malaysia.

This partnership, according to ARBM, is in line with its ambition to become the No. 1 Islamic innovation bank in Malaysia.

In a statement, the bank said it has committed to a digital transformation in 2021 and is focused on providing customers with an all-encompassing Islamic banking solution.

The bank will implement Moneythor’s Personal Finance Management to provide rich in-app functionality and power highly personalized experiences for its customers, it said.

The Moneythor solution is touted to work with real-time data, coupled with machine learning and behavioral science techniques to provide data-driven personalization capabilities for digital financial management.

This will allow ARBM to build on its customer-centric values ​​and strengthen its digital engagement capabilities while reinforcing its position as a leader in Islamic banking, the bank said.

As ARBM builds a full spectrum of Shariah-compliant products, the Moneythor solution will enable it to respond to consumers’ requirements and needs and enable them to offer a market-leading digital proposition at the same time.

Al Rajhi Bank Selects Moneythor to Power Personal Finance FeaturesArsalan Ahmed (Photo)CEO Al Rajhi Bank Malaysia said the partnership with Moneythor will give ARBM a competitive advantage in launching cutting-edge digital banking capabilities, which will differentiate through innovation, customer experience and reliability.

“To seize the opportunities in both digital banking and Islamic finance, we have leveraged several innovative partners and proven solutions, and we are pleased to have Moneythor as one of them to power the personalized money management features of our upcoming banking services. digital”. he said.

Olivier Berthier, CEO of Moneythor, said the company looks forward to providing personalized, customer-centric digital banking experiences for ARBM users with best-in-class PFM features and financial wellness services.

“We are excited to collaborate with such a forward-thinking financial institution and bring such innovative Islamic financial capabilities to life for consumers in Malaysia,” he said.

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