Al Rajhi Bank Malaysia picks Thought Machine for Islamic 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.”