SNG: Alinma Bank unveils API platform upon collaboration with IBM

ALINMA

1150.SA

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First published: 24-Feb-2025 08:21:25

Staff Writer

Riyadh: Alinma Bank has partnered with IBM to launch a new application programming interface (API) platform, powered by the company's hybrid cloud and AI integration technologies.

The platform introduces a centralised API marketplace that enables fintech firms and SMEs to securely access banking services, according to a press release.

The technology stack includes IBM Cloud Pak for Integration, IBM API Connect, Red Hat OpenShift on IBM Cloud, and IBM DataPower, aimed at delivering secure and scalable infrastructure for the involved fintechs.

Chief Information Officer at Alinma Bank, Yasser Al Oufi, stated: "Our new API platform provides corporate customers and fintech partners with competitive, secure, and accessible digital services that support their growth."

Meanwhile, Fahad Alanazi, General Manager at IBM, said: “Our collaboration on the API Monetization platform unlocks greater potential for Saudi fintechs and SMEs.”

The initiative aligns with Saudi Vision 2030's digital transformation goals and Alinma's 2025 transformation strategy.

It is worth mentioning that Alinma Bank registered net profits worth SAR 5.83 billion in 2024 while its total assets hit SAR 276.82 billion.

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