Saudi Arabia’s Bank Albilad has selected the eMACH.ai Digital Transaction Banking platform of Indian-headquartered fintech Intellect Design Arena to help modernise its wholesale banking and cash management services for corporate clients and small and medium-sized enterprises (SMEs).
Intellect’s platform will be used by the bank to devise a multi-channel digital cash management offering, set to include self-service workflows with embedded foreign exchange (FX) capabilities, unified financial dashboards, and personalised experiences through access to over 100 contextual APIs.
The initiative marks Intellect’s fourth digital transformation project in Saudi Arabia’s wholesale banking sector, following a similar partnership announced with Samba Financial Group in 2020.
With approximately $42 billion in total assets, Bank Albilad’s corporate and SME services currently comprise current accounts, POS, trade finance, and treasury and liquidity solutions.
FinTech Futures understands the bank runs on Temenos’ core banking solution and has previously worked with IBM to develop open banking capabilities.
Source: https://www.fintechfutures.com/
