Saudi-based Alinma Bank and Dell Technologies Collaborate to Enhance Financial Services Innovation through Data Center Transformation

Press release

Published October 7th, 2024 - 09:44 GMT

The MoU signed during the 24 Fintech Summit in Riyadh

Riyadh, KSA – 07 October 2024 - Dell Technologies and Alinma Bank today signed a Memorandum of Understanding (MoU) to accelerate the Saudi-based bank’s digital transformation initiatives.

The MoU signed during the 24 Fintech Summit in Riyadh by Mohammed Talaat, VP, KSA & Egypt at Dell Technologies and Yaser Alofi, Chief Information Officer (CIO) at Alinma bank marks a significant step forward in the Shariah-compliant bank’s digital transformation strategy.

The agreement outlines a collaborative framework for both parties to jointly develop and deliver innovative data center transformation solutions. This includes Dell’s IT infrastructure and workload migration solutions, the Dell AI Factory models and frameworks, cybersecurity enhancements, as well as client, edge, and multicloud solutions delivered with flexibility through Dell APEX.

Dell APEX is an end-to-end portfolio of as-a-Service and subscription services where customers pay only for the services consumed. It helps customers scale resources based on their needs and simplifies IT management through consistent performance, predictable costs, and on-demand access to Dell’s infrastructure and services.

Alinma Bank, established in 2006, has earned a reputation for its innovative offerings, customer-focused approach, and pioneering efforts in digital banking.

Mohammed Talaat, VP, KSA & Egypt at Dell Technologies said:

“The Saudi banking sector is at a pivotal stage of growth spurred by technological advancements and an increased focus on innovation. We are happy to contribute to this evolution and support Alinma Bank in its digital transformation journey. By combining our strengths, we can deliver innovative and scalable solutions that address the evolving needs of the bank while delivering even greater value to their customers."

Yaser Alofi, Chief Information Officer (CIO) at Alinma Bank said:

“We are excited to deepen our relationship with Dell and leverage their expertise in delivering cutting-edge technology solutions. This collaboration aligns perfectly with our long-term growth strategy and our commitment to raising benchmarks and setting new standards for the financial industry."

Background Information

Alinma Bank

Alinma Bank is licensed to operate in the Saudi financial services sector, a sector that has experienced positive growth in recent years and is vital to the strength of the national economy. It is in this strong economic environment that Alinma Bank will show its competitive advantages in the following areas.

Shariah Compliance

Alinma Bank seeks to become an integrated financial institution that is in complete accordance with Shariah-compliant banking standards in all services and transactions. It is this dedication to higher standards that Alinma Bank believes will establish it as the touchstone for Shariah banking compliance at the local level in Saudi Arabia, at the regional level and at the broader international level.