Bank Albilad, a Saudi Arabia-based lender, has entered into a partnership with Intellect Design Arena to enhance its digital banking services.
This collaboration aims to modernise wholesale banking in Saudi Arabia by leveraging emerging technologies and intelligent platforms to offer customer-focused solutions. These advancements align with Saudi Arabia’s Vision 2030, which emphasises economic diversification and innovation.
The partnership will utilise Intellect’s eMACH.ai platform, designed to address the evolving needs of various industries. This platform supports the private sector and promotes financial inclusion through tailored solutions.
According to Intellect, the initiative is expected to redefine banking experiences, improve operational efficiencies, and secure Bank Albilad’s leadership position in the Saudi market.
eMACH.ai is an open finance platform offering industry-specific wholesale banking solutions. It promises improved operational efficiency, enhanced financial control, and a better customer experience in line with the economic goals of Saudi Arabia.
The platform’s features include seamless digital cash management, integrated mobile access to financial tools, digitised payment workflows, and client support via various application programming interfaces (APIs).
Bank Albilad plans to implement several key elements of this transformation. These include modernised multi-channel services for better customer engagement, secure mobile solutions for financial management, and advanced self-service options for corporate clients.
The bank will also benefit from faster customer onboarding processes and reduced operational costs through intelligent automation, said Intellect.
Intellect wholesale banking CEO Manish Maakan said: “The eMACH.ai Digital Transaction Banking platform will enable Bank Albilad to offer smarter, more efficient services to corporate clients. The artificial intelligence (AI) driven insights will enhance customer experience and deliver differentiated and trusted cash management experiences.”
“Together, we are realising a future-focused banking experience. One that will set a new benchmark for corporate banking in the region. This partnership is Intellect’s fourth digital transformation initiative in Saudi Arabia’s wholesale banking and further strengthens our cherished position as a trusted technology leader in the Gulf Cooperation Council (GCC).
In related developments, Intellect has launched pilot projects of eMACH.ai for major banks in South Africa. This undertaking supports South Africa’s National Development Plan 2030 by transforming the nation’s wholesale banking infrastructure.
The platform’s capabilities are designed to allow banks to adapt quickly to changing demands and reduce operational expenses.
eMACH.ai offers composable microservices for agility and scalability, advanced AI for real-time decision-making, and infrastructure that decreases transaction costs.
