a day ago
Qatar's AlRayan Bank Launches Finastra Corporate Channels
Finastra has announced that AlRayan Bank, one of Qatar's largest Islamic banks, has successfully gone live with Finastra Corporate Channels, enhancing its corporate digital banking services.
The platform offers a unified and secure digital experience across multiple channels and aims to improve operational efficiency and client satisfaction.
With an updated trade finance and cash management infrastructure, AlRayan Bank can introduce new mobile-first features, accelerate time-to-funds, and support business growth while maintaining client retention.
The implementation was led by IBC Solutions, a regional banking services provider for the Middle East and Africa, and was completed within four months.
During the same period, AlRayan Bank also upgraded to the latest release of Finastra Trade Innovation, ensuring compliance with the ISO 20022 MX messaging standard. Both platforms support the bank's Shariah-compliant services.
'Going live with Corporate Channels is a major step forward in our strategy to offer best-in-class digital services to our corporate clients,'
said Omar Al Emadi, Acting Group Chief Executive Officer of AlRayan Bank.
'The platform provides us with the flexibility and scalability to meet evolving market demands while delivering secure, innovative, and client-centric trade finance and cash management services. We have expanded our long-standing partnership with Finastra based on the richness of its functionalities, ease of integration, and rapid deployment.'
Finastra's Corporate Channels is a modular digital banking solution that unifies trade, supply chain finance, cash management, financing, and treasury services for corporate clients.
The platform features embedded security tools, regulatory compliance functions, and real-time data analytics, and is API-enabled for seamless integration and configurable workflows.
AlRayan Bank has also recently selected Finastra's Essence core banking solution and continues to use the Opics treasury management platform, further demonstrating the bank's ongoing collaboration with Finastra.
'AlRayan Bank has been a valued partner for over 16 years,'
said Manish Joshi, Vice President, APAC and EMEA, Lending at Finastra.
'The successful go-live of Corporate Channels highlights our shared vision of co-innovation and digital transformation. We are proud of the speed and quality of delivery, achieved in close partnership with IBC Solutions, and we look forward to supporting AlRayan Bank in unlocking new growth opportunities and advancing its innovation journey in Islamic finance.'
