Zain KSA and Al Rajhi Bank Sign a Deal to Enhance Financial Inclusion with Innovative Mobile Technologies
Zain KSA and Al Rajhi Bank signed an agreement through which Zain KSA will leverage its technological expertise and human capabilities to upgrade the communication services and expand connectivity of Al Rajhi Bank’s systems which includes branches, ATM network and monitoring systems. This will rely on the pioneering technologies provided over Zain KSA’s world-class infrastructure, including its renowned 5G network.
The agreement was announced during the global tech event LEAP, which comes to confirm Zain KSA’s endorsement of the conference’s objectives, as well as its commitment to supporting the strategy of the Ministry of Communications and Information Technology (MCIT) and the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP). Zain KSA’s participation in LEAP also confirms the company’s alignment with the goals of the Saudi Central Bank (SAMA), mainly in achieving financial inclusion and developing the financial technology (FinTech) sector, which contributes to improving the customer experience through ensuring that electronic transactions are conducted with high reliability and promoting overall digital transformation in the financial sector.
The agreement was signed by Zain KSA’s Chief Business and Wholesale Officer Eng. Saad bin Abdulrahman Al-Sadhan and Acting Chief Operating Officer at Al-Rajhi Bank, Eng. Abdullah bin Saleh Alomari. As part of the agreement, Zain KSA will provide connectivity services to Al Rajhi Bank’s sites across the Kingdom, through its 4G and 5G networks as well as its fiber-optics network, to ensure the provision of highly efficient and reliable services that would improve the experience of Al Rajhi Bank customers and support the bank’s operational strategy.
Commenting on the agreement, Zain KSA’s Chief Business and Wholesale Officer, Eng. Saad bin Abdulrahman Al-Sadhan, said: “As a leading provider of digital services in the Kingdom, Zain KSA employs its capabilities to serve Saudi Vision 2030 and the digital economy strategy aimed at achieving financial inclusion and digitization of the financial sector and investment in FinTech and innovative financial products. This is at the core of Zain KSA’s strategy, which is based on the approach of strategic partnerships with national companies. Today we further endorse this approach with a unique partnership with Al Rajhi Bank, which is one of the most prominent banking entities in the Kingdom.”
In his remarks, Acting Chief Operating Officer, Eng. Abdullah bin Saleh Alomari, said: “Al Rajhi Bank has chosen Zain KSA as its partner due to the company’s expertise, capabilities and technical and human capacities that enabled it to lead the Kingdom’s information technology sector across several fields, including information technology and corporate connectivity services. We believe that this partnership will make it possible for us to raise the efficiency of our banking services and improve operational costs, thus promoting the customer’s journey across all our branches.”
