Riyadh – Mubasher: Alinma Bank has signed a memorandum of understanding (MoU) with Dell Technologies to accelerate Saudi-based bank’s digital transformation initiatives and enhance financial services innovation, according to a press release.
The agreement, which was entered on the sidelines of the 24 Fintech Summit in Riyadh, aims to develop and deliver innovative data centre transformation solutions, including Dell’s IT infrastructure and workload migration solutions, the Dell AI Factory models and frameworks, and cybersecurity enhancements.
This is in addition to client, edge, and multicloud solutions delivered with flexibility through Dell APEX, an end-to-end portfolio where customers pay only for the services consumed. It helps the clients scale resources based on their needs and simplifies IT management by providing consistent performance, predictable costs, and on-demand access to Dell’s infrastructure and services.
Chief Information Officer (CIO) at Alinma Bank, Yaser Alofi, said: “We are excited to deepen our relationship with Dell and leverage their expertise in delivering cutting-edge technology solutions.”
Alofi added: “This collaboration aligns perfectly with our long-term growth strategy and our commitment to raising benchmarks and setting new standards for the financial industry."
From his side, Dell’s Vice President KSA and Egypt, Mohammed Talaat, said: “The Saudi banking sector is at a pivotal stage of growth spurred by technological advancements and an increased focus on innovation.”
Talaat concluded: “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."
It is worth mentioning that Alinma Bank generated net profits worth SAR 2.73 billion in the first half (H1) of 2024 and its assets hit SAR 260.13 billion at the end of June.
