Transformation Overview
A leading Sharia-compliant financial institution in Saudi Arabia executed a strategic modernization of its Open Banking infrastructure to eliminate bottlenecks in Third-Party Provider (TPP) engagement. By implementing the eMACH.ai Digital Engagement Platform (DEP), the bank replaced a legacy developer portal with a high-performance ecosystem designed to support the Kingdom’s Vision 2030 economic diversification objectives.
Despite the challenges of inadequate API monitoring, lack of monetization support, and zero SDK availability for TPPs, success was ensured through a comprehensive digitization of end-to-end Open Banking APIs. This transformation enabled the bank to move beyond API-only integrations, providing a robust, scalable infrastructure for both licensed and non-licensed entities to thrive within a secure Sharia-compliant environment.
Business Impact
- Rapid Onboarding: Reduced digital onboarding time for SME and Retail customers by 75%, down to just 3 minutes
- BaaS Growth: Achieved a projected 50% CAGR in Banking-as-a-Service (BaaS) transactions for the first three years post-launch
- TPP Ecosystem: Successfully onboarded the first Third Party Provider (TPP), with two additional services currently in progress
- Developer Empowerment: Launched 3+ SDKs to enable white-labelled customer experiences within TPP applications
- Functional Depth: Deployed a vast range of API types across 11 functional domains, including Onboarding, KYC, Payments, Trade, POS, Escrow, and Lending
