Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia, announced today that it has selected Moneythor, one of the fastest-growing digital banking solution providers, for the implementation of technology-driven personal financial management features in its upcoming digital bank in Malaysia.

According to ARBM, the recent collaboration is an important step toward the company’s mission of introducing innovative banking solutions in Malaysia. ARBM has developed a broad range of Shariah-compliant products. The solution from Moneythor will enable the bank to respond to the evolving needs of customers.

“The partnership with Moneythor will give ARBM a competitive edge in launching a state-of-the-art digital banking capability, which will be differentiated through innovation, customer experience and reliability. 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 personalized money management features of our upcoming digital bank services,” Arsalaan Ahmed, the Chief Executive Officer at Al Rajhi Bank Malaysia, commented.

Digital Banking in Malaysia

Malaysia is an emerging fintech market. The growing use of digital tools in the financial sector is playing an important role in the popularity of digital banking. After the outbreak of the pandemic, cash transactions in the region have decreased sharply.

According to ARBM, the innovative personal financial management tools will make its upcoming digital bank more efficient.

“We are thrilled to be a partner of Al Rajhi Bank Malaysia’s new digital bank. We look forward to delivering personalised customer-first digital banking experiences for the bank’s users with best-in-class PFM features and financial wellbeing services. We are excited to collaborate with such a forward-looking financial institution and to bring those innovative Islamic finance capabilities to life for consumers in Malaysia,” Olivier Berthier, the Chief Executive Officer at Moneythor, said.

Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia, announced today that it has selected Moneythor, one of the fastest-growing digital banking solution providers, for the implementation of technology-driven personal financial management features in its upcoming digital bank in Malaysia.

According to ARBM, the recent collaboration is an important step toward the company’s mission of introducing innovative banking solutions in Malaysia. ARBM has developed a broad range of Shariah-compliant products. The solution from Moneythor will enable the bank to respond to the evolving needs of customers.

“The partnership with Moneythor will give ARBM a competitive edge in launching a state-of-the-art digital banking capability, which will be differentiated through innovation, customer experience and reliability. 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 personalized money management features of our upcoming digital bank services,” Arsalaan Ahmed, the Chief Executive Officer at Al Rajhi Bank Malaysia, commented.

Digital Banking in Malaysia

Malaysia is an emerging fintech market. The growing use of digital tools in the financial sector is playing an important role in the popularity of digital banking. After the outbreak of the pandemic, cash transactions in the region have decreased sharply.

According to ARBM, the innovative personal financial management tools will make its upcoming digital bank more efficient.

“We are thrilled to be a partner of Al Rajhi Bank Malaysia’s new digital bank. We look forward to delivering personalised customer-first digital banking experiences for the bank’s users with best-in-class PFM features and financial wellbeing services. We are excited to collaborate with such a forward-looking financial institution and to bring those innovative Islamic finance capabilities to life for consumers in Malaysia,” Olivier Berthier, the Chief Executive Officer at Moneythor, said.