Press Release

Al Rajhi Bank Malaysia Selects Oracle Cloud ERP to Fuel Next Stage of Growth and Gain a Competitive Edge

Kuala Lumpur, MalaysiaApril 27, 2022
Oracle ME

Al Rajhi Bank Malaysia (ARBM) has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to help streamline its finance processes, improve productivity, and gain data-driven decision-making capabilities.

With the largest customer base of any bank in the Kingdom of Saudi Arabia (KSA), ARBM has 13 branches in Malaysia and has plans to continue its growth expansion in the country. A digital transformation is key to the ARBM’s growth plans, thus prompting it to adopt cloud solutions. ARBM’s legacy ERP system required ongoing support – making it time consuming and expensive to maintain. With its parent company in KSA already leveraging Oracle E-Business Suite Applications, Oracle Cloud ERP is a natural transition for ARBM.

“We at ARBM are continuously looking to meet the evolving needs of our customers with innovative technology and bespoke banking solutions. Oracle Cloud ERP will give us a new level of control over our financial processes as well as provide the management team analytics on market shifts in real time. The data-driven decision making capability will provide us the competitive advantage that is critical to fuel the next phase of our expansion strategy in line with our vision of becoming the #1 Islamic innovation bank in Malaysia,” said Arsalaan (Oz) Ahmed, Chief Executive Officer, ARBM.

With Deloitte leading the implementation, Oracle Cloud ERP can help ARBM increase productivity, reduce costs, and improve controls through touchless automation and machine learning. The cloud offering can also enable the Finance team to access a comprehensive view of the company’s financial position and results so it can respond quickly and effectively to an ever-changing business environment.

“Banks across the region are embracing all things digital to meet the evolving needs of their customers. ARBM’s selection of Oracle Cloud ERP can provide it with a modern, cloud ERP suite that introduces machine learning to predictive planning and forecasting, which can allow for a continuous stream of innovation and effectively supporting the bank’s current and future business needs,” said Fitri Abdullah, Managing Director, Oracle Malaysia.

About Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (ARBM)

ARBM, a wholly owned subsidiary of the world’s largest Islamic Bank, Al Rajhi Bank Kingdom of Saudi Arabia (KSA) was locally incorporated in October 2006. Following its official launch in 2007, ARBM became the first Arab bank to start its operation in South East Asia, as part of a Shariah compliant banking group that is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development.

At ARBM, we believe that the one thing that holds the world together as people of different nationalities, races and cultures are values. Values define us, unite us, and garner trust from those we serve. Deeply rooted in Islamic banking principles and operating on the same platform as its home bank, ARBM was established on the bedrock values of Integrity and Transparency, Passion to Serve Our Customers, Solution Oriented, Modesty, Innovativeness, Meritocracy and Care for Society.

ARBM continuously endeavours to expand its suite of products and services to meet the financial needs of its customers, delivering innovative Shariah compliant financial solutions across retail, corporate, treasury and investment segments. Today, ARBM operates through a distribution network of 13 branches nationwide.

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