Xavier Kong · · 1 min readAl Rajhi Malaysia-Moneythor partnership brings PFM to boost upcoming digital services
Al Rajhi Bank Malaysia, a subsidiary of Saudi Arabia-based Al Rajhi Bank, has inked a strategic partnership with Singapore digibank solutions provider Moneythor to implement personal finance management (PFM) features in its upcoming digital banking services in Malaysia.
Image credit: Timmy Loen
The partnership is part of Al Rajhi Malaysia’s commitment to digital transformation. This includes integrating Moneythor’s PFM solution, which uses real-time data, machine learning, and behavioral science to offer personalized digital finance management. The tech will also complement the bank’s plans for a full spectrum of Shariah-compliant products as part of its digital banking services this year.
Al Rajhi Malaysia established a new office in February that will house its digital bank team, along with several other divisions. The bank also appointed Ikram Khaliq as its head of digital bank.
See also: As digibanks rise, will Indonesia’s online lenders become obsolete?
Editing by Miguel Cordon and Lorenzo Kyle Subido
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