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Shared Services

Shared services group provides the required support to achieve the strategic vision of the Bank by developing its digital capabilities, streamlining the operating and delivery models, and improving the Bank’s operational excellence.

Alinma Bank has developed a strong and ambitious “Strategy 2025” to provide its customers with the most innovative banking products and services. The strategy and its five years road map includes major initiatives to be undertaken by the different bank groups including shared services. The key initiatives of shared services include progressing on Advanced Analytics (AA) while establishing AA Center of Excellence, centralization of operations functions to increase efficiency across the Bank by shifting operational activities of the Bank to the Operations Division under shared services, streamlining and digitalizing operations through implementation of Robotic Process Automation (RPA), increasing proportion of Information Technology (IT) projects delivered through agile delivery, and improving the operating model between the IT and Business Units (BUs) including formulating delivery Service Level Agreements (SLAs). In addition to that, shared services is contributing to support the other business initiatives.

Shared services comprised five main divisions and departments: Information Technology, Operations, Facilities Management, Procurement, and Planning and Excellence.

Information Technology

The COVID-19 pandemic was an unprecedented catalyst for digital banking across the world, and the increased consumer demand for digital banking services gave rise to numerous technological advancements, allowing users to conduct banking transaction remotely, with ease and speed in a secure manner. Alinma Bank continued to provide an excellent customer experience, by facilitating digital banking services, which are efficient, easy and accessible to all, by adopting the latest technologies.

The year 2021 saw the rapid recovery of business performance after the slowdown experienced in the previous year due to the global pandemic. In responding to the pace of recovery, the Bank introduced its 2021 – 2025 strategy which focuses on the digitalization and automation of multiple aspects of the Bank including:

• Adopting Artificial Intelligence (AI), Advanced Analytics (AA), and Robotic Process Automation (RPA)
• Introducing new digital products and services
• Expanding the digital services at branches
• Enhancing the user experience and interface of the digital channels
• Automating many of the internal processes and procedures to reduce the turnaround time and increase team efficiencies.

In addition to the Bank’s planned initiatives as part of its strategy over the coming years, the Bank has successfully implemented the following high priority initiatives during 2021:

• Advanced Analytics (AA), which supports better business decision-making, through the use of advanced data analytics.
• Robotic Process Automation (RPA), which automates the repeatable operational processes, thereby reducing time, human errors and increasing team productivity and efficiency.
• Revolving Credit Card, which provides Alinma customers with a credit limit through a financing formula consistent with Sharia provisions and controls. The card enables its customers to make purchases or withdraw cash and pay the amounts due in easy monthly instalments.
• Instant Stock Financing Deposit, which enables the Bank to instantly transfer the proceeds from the sales of stock, to customers’ accounts without having to wait for two days, as was the previous practice.
• Anti-Fraud Management System, an intelligent software designed to effectively detect, analyze, and report on any potential fraudulent events.
• Field Sales Mobility System, which allows Alinma sales agents to work remotely in offering Alinma products and services to its customers.
• Instant Payment System (IPS), which enables customers to transfer Saudi payments instantly between local banks.

Operations

Alinma Bank constantly strives to improve processing efficiencies, reduce costs and mitigate risks as part of its overall operations. In 2021, the Bank started to implement several measures to centralize all operational activities from its different groups such as Retail, Finance and Merchant Management to the Bank’s Operations Division to promote efficiencies, reduce costs and optimize the controls to align with the Bank’s risk appetite.

In 2021, one of the key initiatives was initiated to adopt RPA in order to streamline and digitalize operations processes, thereby mitigating the incidence of human errors and reducing operational costs. With processes re-engineering, and automation (including using RPA), the Turn Around Time (TAT) was continuously improved in many banking products and services. Another initiative was introduced to reduce operating costs by outsourcing and converting the operation of the Ha’il Cash Centre to a Multi Bank Cash Centre (MBCC). Global Payment Innovation (GPI) System was implemented to extend real time tracking of foreign currency payments to customers. This enabled to minimize inquiries as all events are communicated automatically.

Furthermore, in 2021, the Operations Division implemented many projects and initiatives that resulted in saving of employees’ time, reducing operating costs, increasing productivity and efficiency, assuring accuracy of operational work, minimizing errors due to less manual intervention and improving customer experience. The major initiatives and achievements include:

• Alinma E-Trade System – an in-house digital channel that automates all trade services.
• Reconciliation System – automating the internal accounts reconciliations to increase efficiency and ensure accuracy.
• The “Name Matching” function was implemented on incoming local transfers to reduce fraudulent transactions and protect the Bank from potential financial losses, while improving efficiencies and reducing processing cycle times
• The Cash Agent Service was enhanced by introducing Electronic Direct Debit Authorization (EDDA) with multiple clearings during the day.
• Wethaq (Letter of Guarantee) – a digital service that enables checking and monitoring of Letters of Guarantee (LGs) through integration with Tabadul via Wethaq portal.
• Etimad LG Verification – direct integration using B2B with E’timad portal for verification of LGs.
• Cheque Clearing and Cash Management System – Installation of encoding machines in the main cash centers to automate the cheque clearing process into the customers’ accounts.
• Real Estate Turnaround time (TAT) Reduction by 65%.
• Personal Finance (TAT) Reduction by 80%.
• Credit card processing time reduced by 75%.
• Unexpected Withholding Tax (WHT) collection from non-resident shareholders through local brokerage houses.
• Migrating the Operations Department to a new office location with Zero Downtime.

Facilities Management

Facilities management has successfully executed many solid initiatives during 2021 to align with the Bank’s business expansion plans for facilities and mortgages along with meeting the highest security requirements in all Bank projects. The following initiatives have been achieved:

• 8 branch construction projects were completed.
• 64 ATM site construction projects were completed.
• 70 branch digital zones construction projects were completed.
• Redesigning and replenishment of seven branch to support universal employee concept.
• Modified all planned off-site ATMs to comply with SAMA new requirements.
• Completed the installation of back-up generators in one branch per region to comply with SAMA new requirements.
• Implemented the solar system.
• 80 branch CCTV cameras have been upgraded to IP cameras as planned to comply with SAMA new requirements.
• 937 ATM CCTV cameras have been upgraded to IP cameras as planned to comply with SAMA new requirements.
• Expanded the GPS tracking service for off-site ATMs to comply with SAMA new requirements.
• Development of the property management electronic system and transferring the manual property contracts to electronic contracts.
• Fulfilled all real estate mortgage requests and deeds management according to the specified Service Level Agreement (SLA).
• Improved cost reduction for some functions along with maintaining the improvement for the quality of services.
• Designing and constructing/replenishment of three locations in Riyadh to provide additional offices for the new male and female employees.
• 6,321 maintenance requests have been fulfilled according to SLA.

Procurement

Procurement Department has successfully executed many initiatives to facilitate all Bank purchases to achieve the Bank strategic objectives aligned with the best practices in the market. The following initiatives have been accomplished:

• Improved the procurement governance and re-engineered the procurement process in order to meet the business needs.
• Enhanced the procurements’ financial approvals to be aligned with the Bank authority matrix by re-developing the approval process and restructuring the Procurement Committee membership and engagement.
• Reduced cost and improved product delivery quality by conducting effective price negotiation rounds with saving 7% from the total purchased value.
• Continued improvement of automation for Bank contracts and purchase orders process.

Planning and Excellence

Strategic planning is one of the most important areas that help organizations succeed and overcome any potential risks. In 2021, planning and excellence has managed the planning and monitoring of 55 successfully implemented initiatives across shared services. Furthermore, planning and excellence has approved 1,171 business requests that were successfully closed.

Planning and excellence has also managed the budgets of the shared services, facilitating and coordinating all financial aspects within the portfolio of initiatives, as well as, ensuring that various cost-saving initiatives across Information Technology, Operations, and Facilities Management are implemented, which result in a decent savings.

In addition, planning and excellence has strongly governed and continuously streamlined the policies, processes, and procedures of IT, Operations, Facilities Management, and Procurement, and enhanced their performance through improving Key Performance Indicators (KPIs) and Service Level Agreements (SLAs) with SAMA and BUs. The planning and excellence has also controlled the environment through Key Risk Indicators (KRIs) to ensure relevant risks were understood and mitigated, to ensure smooth delivery of Bank’s services in a 24/7 operating environment.

Being the first Bank to be certified for Capability Maturity Model Integration (CMMI) in the GCC region, Alinma has enhanced its process and behavioral model that helped minimize risks in software, product, and service development by streamlining process improvement and encouraging productive, efficient behaviors. This certification which is recognized internationally as a mark of business competency and quality, showcase the Bank’s successful efforts in maintaining a competitive edge in its products and services.

Digital Products and Participation

The onset of the pandemic served to trigger the fast tracking of digital transformation in most industries. The banking industry was no different. Multiple initiatives undertaken by Alinma Bank have contributed to acquiring new digital platforms and enhancing its customer experience. The digitalization of products and services such as Online Financing, Virtual Cards, Interbank Payment System (IPS – Sarie), Card Printing Services, as well as increasing the percentage of branches that contain Digital Kiosks (Thati) services to 66% compared to 10% in 2020, have all made the customers’ journey in accessing Alinma banking services convenient and at their fingertips.

Furthermore, Alinma Bank has acquired state-of-the-art machine learning and advanced Artificial Intelligence (AI) tools. This capability enables Alinma to search, conduct, analyze, forecast, predict and explore the Bank’s extensive data library, thereby paving the way to create much growth and new business opportunities. For instance, in 2021, Alinma implemented number of AA use cases, which provide AI capabilities in areas such as churn prediction, hidden affluent, cross selling, and behavior scoring. Although the Bank is at the beginning of its AI journey, the intentions are to use AI widely in retail, prevention of fraud and risk, marketing, trading, and operations, covering multiple use cases in the future.

In order to cater for the expected growth as a result of these initiatives, Alinma Bank has also invested in acquiring the necessary infrastructure to handle the large increase in its customers, which gives assurance to the Management and the public in the Bank’s capacity to cater to their customers’ needs, efficiently. It was noted that the digital engagement of Alinma customers has grown during 2021, which increased the digital transactions to 97%.