Digital
Strategic digital transformation initiatives

Alinma Bank is applying the power of technology to transform and enhance its operations, customer experience, and financial performance. Across all areas of the business, Digital is a key enabler for faster, easier, and more effective products, services, and processes, creating value for customers, employees, and investors alike.

Alinma Bank’s strategic approach to digital

Alinma Bank’s strategic ambitions have been cascaded across its Corporate, Retail, and Treasury business lines, while being supported by key enablers of Excellence, Shariah-compliance, and Digital.

Our digital strategy is fully aligned with Alinma Bank’s strategic imperatives, with a focus on 3 key domains of digital banking

    • Re-invent and enhance the customer experience across all digital touch points
    • Create the best-in-class app offering customers unique mobile experiences, rich capabilities, and value added services
    • Focus on digital sales and digitalize key product journeys to maximize sales and improve turnaround time
    • Revamp corporate and SME digital offerings
    • Elevate analytics capabilities
    • Build new digital only propositions to gain market share (IZ Youth, IZ Business, Family proposition, Nomo, etc.)
    • Leveraging ecosystem and partnerships to augment propositions
    • Tap into new technologies such as AI, robotics, machine learning, advanced analytics, chat bots etc., aiming to build new business models or elevate existing ones
    • Build alliances and collaborate with fintech’s to scout new ideas or accelerate launching new opportunities
    • Re-organize the Bank-wide digital set-up
    • Scale-up Digital factory to power rapid delivery
    • Hire new talents with relevant digital skills

Digital roadmap 2022-2024

Our accelerating digital journey supports the entire Bank’s customer portfolio through a range of key initiatives and projects in different domains, and for several customer segments such as marketplace, home financing, family, loyalty, cross-selling and smart targeting, generative AI, beyond banking, wealth management, and trade.

2023 Digital highlights and achievements

The evolution of digital capabilities is the cornerstone of Alinma Bank’s strategy covering all existing and new customer segments.

In 2023, Digital launched AI capabilities and digital cross-selling, in addition to launching several mobile applications that have repositioned Alinma Bank’s mobile offering for existing customers and targeted the youth segment under a completely new brand. There was also the launch of a marketplace to venture in beyond banking, and last but not least, Alinma Bank was the first bank in the Kingdom to be fully certified for open banking.

In terms of delivery, the Digital Factory was scaled up resulting in an increase in the delivery turnaround. This yielded very strong traction, demonstrated in the increase of the number of customers onboarded through digital channels, along with the growth in digital transactions by 40%, digital financial transactions increasing by 75%, and NPS surpassing the 67% mark for the first time