“To seize the opportunities in both digital bank and Islamic finance, we have tapped into various innovative partners and proven solutions, and we are pleased to count Moneythor as one of them to power the personalised money management features of our upcoming digital bank services,” said Arsalaan Ahmed, Chief Executive Officer, Al Rajhi Bank Malaysia.įollowing its official launch in 2007, ARBM became the first Arab bank to start its operation in South East Asia, as part of a Shariah compliant banking group that is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development. “The partnership with Moneythor will give ARBM a competitive edge in launching a state-of-the-art digital banking capabilities, which will be differentiated through innovation, customer experience and reliability, This will allow ARBM to lean into its customer centric values and strengthen its digital engagement capabilities whilst reinforcing its position as a leader in Islamic banking.Īs Al Rajhi Bank Malaysia builds out a full spectrum of Shariah-compliant products, the Moneythor solution will enable ARBM to respond to the requirements and needs of consumers and allow them to deliver a market-leading digital proposition at the same time. The Moneythor solution is powered by real-time data, coupled with machine learning and behavioural science techniques to provide data-driven personalisation capabilities for digital financial management. The bank will deploy Moneythor’s PFM features to deliver rich in-app functionality and power highly personalised experiences for their customers. Having committed to a digital transformation in 2021, ARBM is focused on providing customers an all-encompassing Islamic banking solution. This partnership is in line with ARBM’s ambition to become the number one Islamic innovation bank in Malaysia, ARBM said in a statement. Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), said Monday it has selected Moneythor, a digital banking solution provider in Singapore, to implement innovative personal financial management (PFM) features in its upcoming digital bank in Malaysia.

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