Saudi Arabia’s Alinma Bank has partnered with IBM to enhance the bank’s IT infrastructure and launch a centralised application programming interface (API) platform.
Through the partnership, the bank will implement IBM’s advanced hybrid cloud and artificial intelligence (AI) integration technologies.
The partnership is also in line with Saudi Arabia’s Vision 2030, which prioritises digital transformation and innovation in the financial sector.
Alinma Bank’s API repository, a critical component of its IT architecture, facilitates operations across retail and business-to-business (B2B) banking channels.
The collaboration aligns with the bank’s 2025 transformation strategy, which aims to create new revenue streams and provide corporate clients and fintech partners with seamless access to digital financial services.
Alinma Bank chief information officer Yasser AlOufi said: “As an innovation-driven bank, we are dedicated to delivering world-class offerings that empower our clients and partners to succeed.
“Our new API platform exemplifies this focus, providing corporate customers and fintech partners with competitive, secure, and accessible digital services that support their growth and resilience.”
By using IBM Cloud Pak for Integration, IBM API Connect, Red Hat OpenShift on IBM Cloud, and IBM DataPower, the platform delivers a secure and scalable infrastructure for fintechs and small and medium-sized enterprises (SMEs).
The API marketplace enables fintechs to access essential financial data. The platform also introduces paid API services, expanding the bank’s revenue opportunities and reinforcing its role Saudi Arabia’s digital economy.
The deployment has streamlined the integration of key banking functions, including onboarding, pricing, and payments.
IBM API Connect serves as the core solution, simplifying complex integrations to ensure reliable and consistent services.
The integration of IBM Cloud Pak for Integration allows Alinma Bank to provide secure and compliant data access across all banking channels, while Red Hat OpenShift ensures a centralised and scalable repository for critical financial data.
IBM Saudi Arabia general manager Fahad Alanazi said: “For years, we have worked to do exactly that, and today, as we advance into an increasingly digital era, we are even more committed to ensuring that leading entities such as Alinma Bank are best placed to accomplish their future goals.
“Our collaboration on the API Monetisation platform unlocks greater potential for Saudi fintechs and SMEs.”
