Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia (ARBM) has announced the official launch of its digital bank arm Rize, offering a wide range of the entity's existing services along with additional products which will be made available gradually, as per a statement made on the 1st of December 2022.

Why it Matters?

Services provided by Rize will include deposits, withdrawals, and transfers, account and personal finance management, debit cards application, purchase, and maintenance, ATM services, e-statements, and tailored personal financing. Rize is currently aimed toward retail consumers, but the small and medium-sized enterprise (SME) market is a target for the digital bank. Intentions are also made to introduce an open banking platform, which will allow them to later introduce em...