Al Rajhi Bank Malaysia Selects Thought Machine to Build a State-Of-The-Art Islamic Digital Bank

Al Rajhi Bank Malaysia Selects Thought Machine to Build a State-Of-The-Art Islamic Digital Bank

LONDON–(BUSINESS WIRE/AETOSWire)– Al Rajhi Bank Malaysia (ARBM), a wholly-owned subsidiary of the world’s largest Islamic bank by assets, Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), has selected Thought Machine, the cloud native core banking technology firm, to power their upcoming next-generation digital bank and strengthen their position as a leader in Islamic banking. Al Rajhi Bank Malaysia embarked on a multi-year digital transformation in 2021 and the Bank will deploy Thought Machine’s core banking engine, Vault, to launch a new digital bank in 2022 with a range…