AlRayan Bank Digital Banking Boost with Finastra

Dubai, UAE – August 13, 2025 – AlRayan Bank’s digital banking services have taken a major leap forward with the launch of Finastra Corporate Channels. This upgrade marks a significant step in the bank’s transformation, delivering a unified, secure, and customer-focused corporate banking experience. Implemented in just four months, the project enhances efficiency while expanding mobile-first capabilities for corporate clients.

The bank modernized its trade finance and cash management systems while upgrading to the latest Finastra Trade Innovation release. This ensures compliance with the ISO 20022 MX messaging standard. It also strengthens AlRayan Bank’s Shariah-compliant services and enables faster product launches, improved retention, and greater operational agility.

Driving Growth in Islamic Digital Banking

The implementation, led by IBC Solutions, reflects a commitment to seamless, mobile-first corporate banking. The upgrade improves time-to-funds, streamlines integration, and delivers more transparent services. These benefits align with evolving client expectations and market demands.

Omar Al Emadi, Acting Group CEO of AlRayan Bank, said this move supports the bank’s goal to be “the most trusted, Shariah-compliant financial institution at the forefront of innovation in Islamic banking.” The platform’s flexibility ensures the bank can meet customer needs while maintaining efficiency and security.

Secure, Modular, and Client-Centric

Finastra’s Corporate Channels unifies trade, supply chain finance, cash management, financing, and treasury services in one platform. Its built-in security features and real-time analytics help the bank adapt quickly to opportunities. Additionally, the API-enabled workflows allow easy integration and fast customization.

Houssam Itani, Group Chief Transformation Officer, said the solution “transforms banking into a smoother, more efficient, and personalized experience.” He added that it also accelerates the launch of new products.

Strengthening a Long-Term Partnership

AlRayan Bank’s collaboration with Finastra spans over 16 years. The bank also uses Finastra’s Essence core banking solution and Opics treasury management platform. This latest go-live reinforces a partnership focused on co-innovation and long-term digital transformation.

Manish Joshi, Vice President, APAC and EMEA, Lending at Finastra, highlighted the speed and quality of the implementation as “a shared achievement with IBC Solutions” and a milestone in advancing Islamic finance technology.

Strategic Value for the GCC

This launch highlights the GCC’s strong push into digital banking innovation, particularly in Shariah-compliant finance. Corporate clients are increasingly seeking secure, integrated, and mobile-ready services. AlRayan Bank’s transformation sets a standard for others in the region.

By combining Finastra’s technology with deep expertise in Islamic finance, the bank is enhancing its global competitiveness while meeting the specific needs of local clients. This positions it as a leader in the evolving digital banking landscape.

Check out our previous post GCC Assets Under Management Reach $2.2 Trillion in 2024