Saudi Investment Bank signs digital deal with SAP

Saudi Investment Bank (SAIB) has announced a digital transformation partnership with global technology company SAP to enhance customer experiences and strengthen digital services in the Kingdom’s banking sector.

Under the new partnership, the bank will majorly invest in the SAP Hybris platform powered by the SAP Hana in-memory platform, said a company statement.

In response to Saudi customer demands and appetite towards digitalization, the Kingdom’s retail and corporate banks are heavily investing in digital transformation and moving to digital banking models, it said.

The bank will gain real-time insights on customers, using solutions running on SAP’s digital platforms to provide more relevant and personalized products, it added.

The bank aims to enhance customer experiences in the end-to-end banking journey making it easier and faster to open accounts, apply for loans, acquire the different cards products, and enjoy all banking services via online channels, or on mobile devices.