Saudi Arabia-based financial services company Al Rajhi Capital has partnered with AlphaCentrix, a technology solutions provider for the financial services industry, to offer innovative financial solutions.

Through the partnership, Al Rajhi Capital will integrate AlphaCentrix’s AlphaInvest software solution into its platform. This will help the former to further advance and improve the digital customer experience of its asset management customer base.

The collaboration also intends in delivering more comprehensive and efficient financial services to clients of Al Rajhi Capital while maintaining their commitment to Shariah compliance.

Founded in 2002, AlphaCentrix offers data management, client onboarding and wealth management solutions, application hosting, and professional services to streamline investment operations for investment managers, fund administrators, and prime brokers.

AlphaCentrix managing director Bilal Alassar said: “Al Rajhi Capital is strategically positioned to harness the remarkable advantages of our powerful Wealth Management and Thrift Plans capabilities offered through AlphaInvest.

“We are unwavering in our commitment to reinvest aggressively in these solutions and bolster our global delivery team to provide significant operational scale and deliver an even more enhanced client experience to large financial institutions.”

According to the companies, the partnership will transform the financial services landscape in Saudi Arabia.

Al Rajhi Capital focuses in delivering a wide range of financial products and services in accordance with the principles of Shariah finance.

The firm’s digital channels act as a comprehensive platform for examining investment-related resources, potentially opening investment accounts online, and staying informed about market developments.

Besides, Al Rajhi Capital offers access to daily market reports, mutual fund price lists, and the latest market news.

Al Rajhi Capital chief information officer Ahmad Al Rifai said: “This partnership will allow us to continue providing our clients with cutting-edge financial solutions while ensuring that all our offerings remain fully compliant with Shariah principles.”