The financial landscape in the Middle East is evolving rapidly, with mid-sized banks entering a new phase of digital transformation. For years, these institutions operated within traditional banking models, catering to retail, corporate, and SME clients through conventional channels. However, as customer expectations shift and competition intensifies, mid-sized banks are accelerating their digital initiatives to maintain relevance and expand their market presence.

Unlike larger banks with well-established digital infrastructures or fintech disruptors built on digital-first models, mid-sized banks must modernize legacy systems while ensuring secure, scalable, and efficient financial services. Many are rising to the challenge by upgrading core banking platforms, enhancing real-time payment solutions, streamlining digital onboarding, and strengthening security frameworks—all to meet the demands of an increasingly digital economy.

Omdena’s report categorizes mid-sized banks into Market Leaders, Fast Movers, Niche Specialists, and Emerging Innovators based on their technology infrastructure and digital service portfolio. Market Leaders have fully integrated modernized core banking, fintech collaborations, and a broad range of digital services. Fast Movers are accelerating transformation through core system upgrades, strategic tech partnerships, and new digital offerings. Niche Specialists focus on targeted financial solutions, sector-specific innovations, and specialized digital services. Emerging Innovators are building strong foundations with digital onboarding, security enhancements, compliance-driven infrastructure, and service improvements.

 

The Digital Imperative for Mid-Sized Banks

The shift to digital banking is no longer optional—it is a strategic necessity for long-term growth. With fewer resources than larger banks, mid-sized institutions must make calculated investments in digital infrastructure to stay competitive. The most forward-thinking banks are focusing on:

• Core Banking System Upgrades – Transitioning to cloud-based, API-driven platforms to improve scalability and operational efficiency.
• Seamless Digital Onboarding – Enhancing customer acquisition through remote account opening and eKYC solutions.
• Real-Time Payments & Digital Wallets – Expanding instant payment capabilities and digital transaction ecosystems.
• Enhanced Security & Compliance – Strengthening fraud prevention and ensuring secure, transparent financial operations.
• Omnichannel Banking – Creating seamless experiences across mobile, web, and physical branches.

 

Mid-Sized Banking Digital Quadrant

The Mid-Sized Banking Digital Quadrant categorizes banks based on their Technology Infrastructure Evolution and Digital Service Portfolio, assessing both back-end advancements and customer-facing innovations. This structured evaluation provides insights into their digital transformation journey, from foundational upgrades to comprehensive digital ecosystems.

Figure: Digital Quadrant for Mid-Sized Banks in the Middle East

This quadrant evaluates banks across four key categories:

Market Leaders

Gulf International Bank (GIB)

Gulf International Bank (GIB) is a Market Leader in Digital Transformation, offering a seamless blend of corporate, investment, and retail banking services. With a focus on real-time banking and API-driven financial services, GIB continues to strengthen its position as a technology-driven financial institution. Through strategic collaborations and cutting-edge implementations, the bank is shaping the future of digital banking in the region.

Key executives: Abdulaziz Al-Helaissi (CEO), Sridhar Iyer (Group CDO), Hazem Abdullah ( CTO), and Mohammed Al-Thbiti (CIO).

Key Digital Initiatives

• Advanced API Banking – GIB’s API banking platform offers over 40 APIs, enabling instant transactional banking services for businesses and customers, making financial operations more efficient and accessible.
• Shariah-Compliant Digital Banking – The launch of meem Digital Banking, a fully online retail banking service, positions GIB as a pioneer in digital-first, Shariah-compliant financial solutions.
• Core Banking Innovation with Oracle FLEXCUBE – GIB has implemented Oracle FLEXCUBE to enhance payment processing and digital banking operations, ensuring faster and more secure transactions.

By embracing API banking, Shariah-compliant digital services, and next-generation core banking systems, GIB is reinforcing its role as a leader in digital finance across the GCC.

United Arab Bank (UAB)

United Arab Bank (UAB) is a Market Leader in Digital Transformation, focusing on modernizing IT infrastructure, enhancing digital payments, and leveraging blockchain for financial security. By adopting cloud solutions and strengthening payment ecosystems, UAB is advancing toward a fully digital banking model, ensuring a seamless financial experience for individuals and businesses.

Key executives: Shirish Bhide(CEO), Dr. Abdullah AlTaee (COO) and SV Padmanabhan (CIO).

Key Digital Initiatives

• Comprehensive Digital Transformation with SAP and AWS – UAB partnered with SAP and AWS to implement RISE with SAP, a cloud-based initiative that improves operational efficiency, cybersecurity, and digital banking experiences.
• Omnichannel Payment Solutions for Businesses – Through its collaboration with Network International, UAB has enhanced digital payment services, providing businesses with secure, flexible, and seamless online and offline transaction capabilities.
• Blockchain-Based Fraud Prevention with UAE Trade Connect – The bank joined UAE Trade Connect, a blockchain platform developed by e& enterprise, to detect fraud in trade financing, improving transaction security and regulatory compliance.

With a strong emphasis on cloud banking, omnichannel payments, and blockchain security, UAB is positioning itself as a key player in the UAE’s digital finance ecosystem.

Emirates Islamic Bank

Emirates Islamic Bank is a Market Leader in Digital Transformation, driving innovation in Islamic finance with advanced security features, real-time payments, and customer engagement. By integrating digital-first services, the bank is ensuring seamless, secure, and accessible financial experiences for individuals and businesses across the UAE.

Key executives: Farid Al Mulla (CEO) and Mahdi Al Kazim (CRO).

Key Digital Initiatives

• Smart Pass for Secure Transactions – Emirates Islamic introduced Smart Pass, replacing SMS-based authentication with a more secure and efficient digital verification system, enhancing transaction security.
• Launch of InstaPay for Instant Transfers – The bank rolled out InstaPay, allowing real-time fund transfers within the UAE, supporting the country’s transition toward a cashless and digitally driven economy.
• Pioneering WhatsApp Banking – Emirates Islamic became the first Islamic bank globally to launch WhatsApp Banking, enabling customers to access banking services via an chatbot for secure and instant transactions.

By enhancing security, streamlining instant payments, and leveraging customer engagement, Emirates Islamic is redefining Shariah-compliant digital banking in the UAE.

Fast Movers

Bank NXT (formerly aiBANK)

Bank NXT is a Fast Mover in Digital Transformation, accelerating the modernization of banking services across Egypt. Formerly known as aiBANK, the bank is focused on enhancing digital accessibility, optimizing banking infrastructure, and expanding cloud-based financial services. Through strategic collaborations and advanced technology integration, Bank NXT is positioning itself as a key player in Egypt’s evolving digital finance sector.

Key executives: Amr Gamali (Deputy CEO), Hesham Daabes (COO), and Ahmed Riad (CEO Advisor for Digital Transformation).

Key Digital Initiatives

• Partnership with Red Hat for Cloud Banking – Bank NXT partnered with Red Hat to implement hybrid cloud banking solutions, significantly reducing service deployment times and increasing the frequency of digital banking updates for a more agile and responsive banking experience.
• Advanced Corporate Digital Solutions with Mindgate – The bank collaborated with Mindgate Solutions to launch a digital platform tailored for corporate clients, enabling real-time financial management, automated transactions, and advanced reporting.
• Enhanced Digital Operations with Automation – Bank NXT integrated Red Hat’s Ansible Automation Platform, improving operational efficiency and reducing incident resolution times, reinforcing its commitment to seamless digital banking.

By focusing on cloud computing, automation, and corporate banking innovation, Bank NXT is redefining the financial landscape in Egypt with scalable, technology-driven solutions.

MIDBANK

MIDBANK is a Fast Mover in Digital Transformation, focusing on core banking modernization, digital payments, and open banking integration. With a strong push toward financial inclusion and seamless banking experiences, MIDBANK is rapidly enhancing its digital infrastructure to support individuals, businesses, and SMEs.

Key executives: Tarek Elkassaby (COO), Mohamed Elzahaby (CIO), and Mohamed Abo Bakr (CRO).

Key Digital Initiatives

• Expansion of Digital Payments with Visa – MIDBANK partnered with Visa to introduce secure, fast, and scalable electronic payment solutions, supporting Egypt’s shift toward a cashless economy.
• Core Banking Overhaul with Temenos – The bank adopted Temenos Transact and Temenos Infinity, replacing legacy systems with an open banking framework, enabling real-time digital banking, seamless transactions, and personalized financial services.
• Commitment to Digital Expansion – MIDBANK is streamlining internal processes, enhancing customer engagement, and broadening its digital service offerings, focusing on open banking frameworks and electronic transactions.

By integrating advanced core banking systems, expanding digital payments, and prioritizing open banking, MIDBANK is cementing its position as a leading force in Egypt’s digital financial sector.

Al Rayan Bank Group

Al Rayan Bank Group is a Fast Mover in Digital Transformation, driving advancements in core banking infrastructure, real-time settlements, and digital financing. With a commitment to ethical financial services, the bank is modernizing Islamic finance by integrating technology-driven solutions for individuals and businesses.

Key executives: Fahad Al Khalifa (Group CEO), Alexis Neeson (Group Chief Risk Officer), Stuart Rennie (Group Chief Operation Officer) and Houssam Itani (Group Chief Transformation Officer)

Key Digital Initiatives

• Core Banking System Upgrade with Finastra – Al Rayan Bank partnered with Finastra to implement Finastra Essence, an advanced core banking solution that enhances operational efficiency, security, and digital banking experiences.
• Integration with Qatar’s Real-Time Gross Settlement System – The bank integrated with Qatar Central Bank’s QA-RTGS system, enabling instant, secure, and high-value financial transactions, reinforcing its position in digital payment efficiency.
• Strategic Partnerships for Digital Financing – Through collaborations with Fingular and TESS Payments, Al Rayan Bank launched fully digital financing solutions, making Shariah-compliant financial services more accessible and efficient.

By focusing on real-time settlements, secure digital transactions, and expanding digital financial inclusion, Al Rayan Bank is advancing the future of Islamic banking.

Ahlibank Qatar

Ahlibank Qatar is a Fast Mover in Digital Transformation, focusing on real-time transactions, digital wallets, and mobile banking enhancements. By strengthening its digital infrastructure, the bank is ensuring secure, efficient, and customer-centric financial experiences in Qatar’s evolving digital finance landscape.

Key executives: Hassan Alfrangi (CEO), Mohamed Sobh (CRO), Rakesh Chouhan (CTO & CIO), and Izzidin Abusalameh (COO).

Key Digital Initiatives

• Instant Payment Services with Fawran – Ahlibank introduced Fawran, an instant payment service integrated into its online and mobile banking platforms, allowing real-time Qatari Riyal transactions for seamless financial accessibility.
• Launch of Ahlipay Digital Wallet – The bank launched Ahlipay, a fully digital wallet enabling contactless QR payments, peer-to-peer transfers, and utility bill payments, making everyday transactions faster and more convenient.
• Redesigned Mobile and Online Banking Platform – Ahlibank revamped its digital banking experience, introducing an intuitive user interface, enhanced security features, and streamlined transaction capabilities, reinforcing customer-first digital banking.

By advancing real-time payments, digital wallets, and secure banking experiences, Ahlibank Qatar is strengthening its position as a key player in Qatar’s digital financial sector.

ALEXBANK

ALEXBANK is a Fast Mover in Digital Transformation, driving innovation in Egypt’s banking sector through modern financial solutions. The bank provides retail, corporate, and SME banking services, ensuring seamless and customer-centric digital experiences. With a strong focus on expanding digital payments, automation, and fintech collaborations, ALEXBANK continues to enhance its role in Egypt’s evolving digital economy.

Key executives: Paolo Vivona (CEO & Managing Director), Antonio Bergalio (Executive Board Member & Deputy CEO), and Ramy Taha (Deputy CEO, Retail, MSMEs & Digital Banking).

Key Digital Initiatives

• Partnership with Mastercard for Secure Payments – ALEXBANK partnered with Mastercard to modernize its digital payment infrastructure, offering secure, flexible, and user-friendly transaction solutions. This collaboration enhances fraud prevention measures and expands the bank’s digital payment offerings, improving customer convenience.
• Strategic Collaboration with Network International – To accelerate digital banking adoption, ALEXBANK strengthened its partnership with Network International, introducing advanced e-commerce and payment processing solutions. This ensures that businesses and individuals benefit from faster, more secure online transactions, supporting Egypt’s shift to a cashless economy.
• Innovative Digital Savings Solutions with El Gameya – ALEXBANK partnered with El Gameya, a fintech specializing in rotating savings and credit associations (ROSCAs), to introduce digital savings solutions. This initiative provides users with an organized, technology-driven approach to saving and lending, reinforcing ALEXBANK’s commitment to financial inclusion and digital accessibility.

 

Arab African International Bank (AAIB)

Arab African International Bank (AAIB) is a Fast Mover in Digital Transformation, focusing on secure digital payments, customer experience enhancement, and fintech-driven innovation. By modernizing its banking infrastructure, AAIB is ensuring a seamless and technology-driven financial experience for its customers.

Key executives: Sherif Ramadan (CIO), Inji Gemei (Chief Strategy Officer), and Khaled H. (COO).

Key Digital Initiatives

• Strategic Partnership with Mastercard – AAIB established a long-term collaboration with Mastercard to enhance digital payment infrastructure, introduce secure electronic transactions, and strengthen fraud prevention measures.
• Enhanced Digital Banking Experience with Liferay – The bank partnered with Liferay Inc. to upgrade its online and mobile banking platforms, ensuring an intuitive and user-friendly experience across all digital channels.
• Establishment of a Digital Factory – AAIB launched a Digital Factory, a dedicated initiative focused on developing new financial products, digital banking solutions, and customized services, positioning AAIB as a leader in next-generation banking technologies.

By prioritizing digital payments, fintech collaboration, and customer experience innovation, AAIB is shaping the future of digital banking in Egypt.

Banque Saudi Fransi (BSF)

Banque Saudi Fransi (BSF) is a Fast Mover in Digital Transformation, focusing on modernizing core banking systems, enhancing digital trade finance, and expanding automation. Through strategic technology adoption, BSF is reshaping financial services and reinforcing its position as a leading digital-first bank.

Key executives: Bader Hamad Alsalloom (CEO), Ramzy Darwish (Chief Strategy and Finance Officer), and Abdallah Alshaikh (Chief Legal, Governance, and ESG Officer, Corporate Secretary).

Key Digital Initiatives

• Advanced Digital Banking Platform with Backbase – BSF partnered with Backbase to introduce a next-generation digital banking experience, enabling instant digital onboarding, real-time account access, and personalized financial services.
• Core Banking System Upgrade with TCS BaNCS – The bank implemented TCS BaNCS Global Banking Platform, increasing automation, service efficiency, and product innovation, ensuring a more scalable and secure banking environment.
• Digital Trade Finance Services – BSF introduced online trade finance solutions, allowing businesses to manage trade-related financial activities through a secure digital platform, streamlining document processing, payments, and financing transactions.

By focusing on automation, core banking modernization, and seamless trade finance solutions, BSF is advancing Saudi Arabia’s digital financial ecosystem.

 

Niche Specialists

Al Masraf (Arab Bank for Investment and Foreign Trade)

Al Masraf is a Niche Specialist in Digital Transformation, focusing on digital trade finance, blockchain integration, and SME financial solutions. By modernizing its banking infrastructure, Al Masraf is enhancing financial accessibility for businesses while ensuring secure and efficient digital transactions.

Key executives: Fuad Mohamed (CEO), Rohit Kumar (CRO), and Nitin Bhargava (COO).

Key Digital Initiatives

• Supply Chain Finance Solutions for SMEs – Al Masraf partnered with Finneva to introduce digital supply chain finance solutions, enabling SMEs to access liquidity, improve cash flow management, and reduce financial risks.
• Blockchain Integration for Trade Finance – The bank joined UAE Trade Connect (UTC), a blockchain-based fintech platform developed by e& enterprise, to combat fraud and enhance transaction security in trade finance.
• Core Banking System Upgrade with Temenos – Al Masraf implemented Temenos UniversalSuite, enabling experience-driven banking services and seamless digital transactions across retail and corporate banking.

By focusing on digital supply chain finance, blockchain-powered security, and advanced banking systems, Al Masraf is strengthening its role as a key financial partner for businesses in the UAE.

National Bank of Oman (NBO)

National Bank of Oman (NBO) is a Niche Specialist in Digital Transformation, focusing on modernizing financial transactions, strengthening B2B payment solutions, and enhancing core banking infrastructure. By leveraging fintech collaborations, NBO is expanding Oman’s cashless payment ecosystem and improving financial accessibility.

Key executives: Abdullah Hinai (CEO), Abdulkarim Alhinai (CIO), and Tariq Atiq (COO).

Key Digital Initiatives

• Strengthening Digital Payments with PayByte – NBO partnered with PayByte to introduce secure and innovative digital payment solutions, supporting Oman’s transition toward a cashless economy.
• B2B Payment Modernization with PayMate – The bank collaborated with PayMate to enhance B2B payment processing, allowing corporate and SME clients to use Visa business credit cards for supplier transactions, streamlining financial management.
• Core Banking Innovation with Finastra – To support long-term digital growth, NBO adopted Finastra’s core banking system, ensuring a scalable, cost-effective, and secure banking infrastructure for enhanced digital services.

By focusing on digital payments, business transaction modernization, and core banking innovation, NBO is reinforcing its position as a leading digital-first bank in Oman.

Alternatif Bank

Alternatif Bank is a Niche Specialist in Digital Transformation, focusing customer insights, digital branch services, and omnichannel banking. By enhancing data-driven financial solutions, the bank is redefining how customers interact with financial institutions in Turkey.

Key executive: Ozan Kırmızı (Board Member & CEO).

Key Digital Initiatives

• Launch of a Digital Branch for Personalized Banking – Alternatif Bank introduced a fully digital branch, where customers are assigned dedicated portfolio managers, offering tailored financial advice without minimum balance requirements.
• Partnership with Dataroid for Customer Insights – The bank partnered with Dataroid to improve real-time customer engagement tracking and enhancing service delivery.
• Omnichannel Banking for Seamless Financial Access – Alternatif Bank adopted an omnichannel framework, integrating mobile, web, and in-branch banking into a unified and seamless experience.

By leveraging digital advisory services and omnichannel banking, Alternatif Bank is creating a highly personalized banking experience in Turkey.

BLOM Bank

BLOM Bank is a Niche Specialist in Digital Transformation, focusing on contactless transactions, cross-border payments, and secure online banking. By integrating advanced financial technologies, the bank is enhancing the accessibility and efficiency of digital banking in Lebanon.

Key executives: Talal Ibrahim (Deputy CEO) and Gerard Rizk (Group CRO).

Key Digital Initiatives

• Collaboration with Mastercard for Digital Payments – BLOM Bank partnered with Mastercard to strengthen Lebanon’s digital payments ecosystem, rolling out innovative payment technologies across the country.
• Launch of BLOMPay for Contactless Payments – The bank introduced BLOMPay, enabling customers to make NFC-based contactless payments via Android devices, ensuring secure and convenient transactions.
• Implementation of SWIFT gpi for Cross-Border Payments – BLOM Bank became the first in Lebanon to adopt SWIFT Global Payments Innovation (gpi), enhancing the speed and transparency of international transactions.
• Introduction of eCASH for Cardless ATM Withdrawals – BLOM Bank launched eCASH, a real-time, cardless payment service, allowing customers to withdraw money securely without a physical card.

By focusing on secure digital payments, real-time transactions, and contactless banking, BLOM Bank is strengthening its position as a leader in Lebanon’s digital finance sector.

EG BANK

EG BANK is a Niche Specialist in Digital Transformation, focusing on supporting startups, youth financial education, and expanding financial inclusion. By fostering innovation and entrepreneurship, the bank is shaping Egypt’s digital banking future through strategic partnerships and educational initiatives.

Key executives: Nidal ElKassem Mohamed Assar (Vice Chairman & CEO), Ibrahim Abaza (Deputy CEO), Yasmine Abdelrazik (Chief Strategy & Sustainability Officer & Chief of Staff), and Ehab Mostafa (CRO).

Key Digital Initiatives

• MINT Fintech Accelerator for Startup Growth – EG BANK launched MINT Fintech Accelerator, providing funding, mentorship, and training to financial technology startups, supporting fintech innovation in Egypt.
• Youth Digital Education with Atfal Masr Initiative – The bank collaborated with the Ministry of Social Solidarity to introduce Atfal Masr Digital Initiative, equipping youth with AI, programming, and digital finance skills.
• Expanding Financial Inclusion through Digital Banking – EG BANK is enhancing its mobile and online banking platforms, ensuring greater accessibility to digital financial tools, particularly for underserved populations.

By focusing on fintech incubation, digital education, and financial inclusion, EG BANK is playing a key role in advancing Egypt’s digital economy.

Ajman Bank

Ajman Bank is a Niche Specialist in Digital Transformation, focusing on secure authentication, instant payments, and mobile banking innovation. By integrating digital-first financial solutions, the bank is enhancing accessibility and efficiency for customers in the UAE.

Key executives: Mustafa Khalfawi (CEO), Rana Khalid (CRO), Mamoun Alhomssey (CIO), and Salem Shamsi (COO).

Key Digital Initiatives

• Seamless Digital Authentication with UAE PASS – Ajman Bank integrated UAE PASS authentication into its mobile banking app, allowing customers to digitally verify their identity without visiting a branch, improving security and convenience.
• Expansion of Real-Time Payments with Aani – The bank collaborated with Al Etihad Payments to integrate with the Aani Instant Payment Platform, enabling real-time fund transfers for faster and more secure transactions.
• Retail Super App for Enhanced Banking Experience – Ajman Bank partnered with Codebase Technologies to launch a retail super app powered by Digibanc, offering comprehensive financial services in a single mobile platform.

By focusing on secure authentication, instant payments, and mobile-first banking, Ajman Bank is reshaping Shariah-compliant digital banking in the UAE.

 

Emerging Players

 

The Saudi Investment Bank

The Saudi Investment Bank is an Emerging Innovator in Digital Transformation, focusing on branch transformation, and enhanced cybersecurity. By modernizing customer interactions and digital services, Saudi Investment Bank is positioning itself as a leader in Saudi Arabia’s evolving financial landscape.

Key executives: Faisal Abdullah Al-Omran (CEO), Salman Badar Al-Fughom (Deputy CEO), Mansour Mohammed AlObaikan (CRO), and Abdulaziz Al Afaleg (COO).

Key Digital Initiatives

• Branch Automation for a Digital-First Experience – Saudi Investment Bank has implemented self-service branch automation, reducing wait times and enhancing customer efficiency, supporting the transition toward the “branch of the future” concept.
• Strengthened Digital Infrastructure with Cisco – The bank partnered with Cisco to adopt advanced network technologies, improving cybersecurity, real-time banking operations, and digital service scalability.
• Advanced Digital Banking Platforms for Seamless Transactions – Saudi Investment Bank introduced fully integrated digital banking platforms, offering real-time account management, secure online transactions, and digital payment solutions.

By focusing on branch automation, security, and seamless digital banking, Saudi Investment Bank is reinforcing its role as a technology-driven financial institution in Saudi Arabia.

Egyptian Arab Land Bank (EALB)

Egyptian Arab Land Bank (EALB) is an Emerging Innovator in Digital Transformation, focusing on digital transformation, EFT platform integration, and cross-border payment solutions. By modernizing its financial infrastructure, EALB is enhancing transaction efficiency and customer accessibility in Egypt and beyond.

Key executive: Ayman Hussein Gabr (CRO & Head of Risk Group).

Key Digital Initiatives

• Digital Transformation Initiatives – EALB is launching a suite of electronic services, including digital payments, ATM upgrades, and mobile banking enhancements, ensuring seamless banking accessibility.
• Implementation of a Full EFT Platform – The bank partnered with MDSL to integrate a new Electronic Funds Transfer (EFT) system, streamlining transactions across Egypt, Palestine, and Jordan in multiple phases.
• Participation in the “Buna” Arab Payment Platform – EALB joined the Buna platform, enabling cross-border clearing and settlement services in Arab and foreign currencies, improving regional payment efficiency.

By focusing on electronic banking expansion, regional payment innovation, and secure financial transactions, EALB is reinforcing its role as a key player in Egypt’s digital finance sector.

Surani Group

Surani Group is an Emerging Innovator in Digital Transformation, specializing in ERP systems, workflow automation, and digital banking efficiency. By focusing on technology-driven financial solutions, the company is streamlining banking operations and enhancing digital accessibility.

Key executive: Parth Surani (CEO).

Key Digital Initiatives

• Development of Proprietary ERP Systems for Banking Sales – Surani Group has designed custom-built ERP systems that enable data-driven decision-making, automated workflows, and improved operational efficiency for banking sales teams.
• Automation-Driven Financial Solutions – The company integrates advanced automation technologies to streamline financial operations, payment processing, and backend banking workflows, reducing manual intervention and enhancing transaction accuracy.
• Enhancing Digital Banking Efficiency – By prioritizing technology-first financial services, Surani Group helps banks and fintech firms improve digital accessibility, increase customer engagement, and optimize financial product distribution.

By focusing on financial automation, ERP-driven banking solutions, and digital process optimization, Surani Group is reshaping the banking technology landscape.

Arab Jordan Investment Bank (AJIB)

Arab Jordan Investment Bank (AJIB) is an Emerging Innovator in Digital Transformation, focusing on seamless onboarding, blockchain-powered payments, and process automation. By modernizing its financial infrastructure, AJIB is enhancing banking accessibility for residents and non-residents alike.

Key executive: Basel Araj (Deputy General Manager & Deputy CEO).

Key Digital Initiatives

• Seamless Digital Onboarding for Customers – AJIB partnered with Codebase Technologies to introduce fully digital onboarding, allowing customers to open accounts remotely using eKYC verification, ID scanning, and liveness detection.
• Blockchain Integration for Cross-Border Payments – The bank deployed Oracle’s Blockchain Platform to streamline international money transfers, reducing processing times and eliminating intermediaries for faster, more secure transactions.
• Commitment to Digital Growth and Innovation – AJIB continues to invest in automation, secure digital transactions, and customer experience enhancements, ensuring scalable and future-ready banking services.

By focusing on blockchain-powered payments, digital onboarding, and operational efficiency, AJIB is advancing Jordan’s digital financial ecosystem.

 

Société Arabe Internationale de Banque (SAIB)

Société Arabe Internationale de Banque (SAIB) is an Emerging Innovator in Digital Transformation, focusing on unified banking platforms, data security, and workforce digital training. By modernizing its banking operations and digital infrastructure, SAIB is enhancing financial accessibility while supporting digital upskilling in Egypt’s banking sector.

Key executives: Afdal Nageeb (CEO & Managing Director), Mohamed T. (COO), and Moustafa Marzouk (CIO).

Key Digital Initiatives

• Digital Banking Transformation with VeriPark – SAIB partnered with VeriPark to unify financial transactions into a single digital banking platform, improving efficiency, accessibility, and seamless account management.
• Data Center Relocation for Enhanced Security – The bank relocated its data infrastructure to a secure, advanced facility, improving business continuity, regulatory compliance, and scalability for future digital services.
• Digital Banking Training Programs with Temenos – SAIB collaborated with Temenos to launch training programs for young professionals and university graduates, equipping them with skills in digital banking transformation.

By focusing on secure digital banking, trade finance modernization, and workforce digital literacy, SAIB is advancing financial innovation in Egypt.

Jordan Commercial Bank (JCB)

Jordan Commercial Bank (JCB) is an Emerging Innovator in Digital Transformation, focusing on automated financial services, cybersecurity, and digital lending. By integrating secure digital infrastructure and financial automation, JCB is enhancing banking accessibility and efficiency in Jordan.

Key executives: Caesar Qulajen (CEO) and Antonio Abdel-Massih (CIO).

Key Digital Initiatives

• Seamless Digital Loan Services and Automated Banking Operations – JCB partnered with Menaitech to introduce fully digital loan applications and automated KYC processes, ensuring faster approvals and enhanced security.
• Strengthening Security and Digital Payments Infrastructure – The bank established a disaster recovery data center at Aqaba Digital Hub, reinforcing business continuity, cybersecurity, and real-time transaction capabilities.
• Advancing Cybersecurity and Data Intelligence – JCB adopted Pio-Tech’s Bank BI® Data Warehouse and Dashboard solutions, enabling data-driven decision-making, financial analysis, and operational optimization.

By focusing on digital lending, financial automation, and cybersecurity, JCB is shaping Jordan’s next-generation banking ecosystem.

INVESTBANK

INVESTBANK is an Emerging Innovator in Digital Transformation, focusing on regulatory compliance, digital transparency, and secure financial services. By embracing data-driven banking frameworks, INVESTBANK is enhancing financial accessibility and interoperability in Jordan.

Key executive: Muntaser Dawwas (CEO).

Key Digital Initiatives

• Compliance with Open Banking and Open Finance Standards – INVESTBANK partnered with Fintech Galaxy to achieve full compliance with Jordan’s Open Banking regulations, ensuring secure data sharing and seamless fintech partnerships.
• Enhancing Digital Financial Services – The bank is modernizing its digital banking platforms, focusing on mobile-first experiences, automated transactions, and enhanced security measures for seamless customer engagement.
• Expanding Digital Growth in Jordan’s Financial Sector – By integrating fintech-driven solutions and regulatory-driven innovation, INVESTBANK is building a more interconnected and data-driven banking experience.

By focusing on open banking, fintech collaboration, and secure financial transactions, INVESTBANK is leading Jordan’s shift toward digital-first financial services.

Safwa Islamic Bank

Safwa Islamic Bank is an Emerging Innovator in Digital Transformation, focusing on secure identity verification, process automation, and digital expansion. By integrating advanced security measures and operational efficiencies, the bank is enhancing the accessibility of Islamic finance in Jordan.

Key executives: Samer Tamimi (General Manager & CEO), Zeina Khirfan (Chief Digital & Operating Officer), and Ahmad Jafar (Head of Risk Management).

Key Digital Initiatives

• Advanced Identity Verification for Secure Digital Banking – Safwa Islamic Bank implemented eKYC solutions to strengthen fraud prevention, data security, and customer authentication for mobile banking users.
• Process Automation for Operational Efficiency – The bank partnered with CRIF IT Solutions to streamline and automate core banking operations, reducing manual interventions and improving processing speeds.
• Commitment to Digital Growth in Finance – Safwa Islamic Bank is expanding Shariah-compliant digital solutions, ensuring secure, accessible, and regulation-compliant financial services for a broader customer base.

By focusing on secure identity verification, banking automation, and Islamic digital finance, Safwa Islamic Bank is shaping Jordan’s next-generation Islamic banking ecosystem.

 

Categorization Methodology

Our framework for categorizing mid-sized Middle Eastern banks evaluates their digital transformation across two dimensions: “Technology Infrastructure Evolution” (from foundation building to advanced integration) and “Digital Service Portfolio” (from focused offerings to comprehensive ecosystem). This approach provides a balanced assessment of both back-end capabilities and customer-facing innovations that collectively define digital maturity.

The categorization process involved a thorough analysis of publicly available data including bank websites, press releases, industry reports, and partner announcements. Each bank was evaluated against specific criteria within each dimension – including core system modernization, API development, cloud adoption, digital channel range, mobile banking features, fintech partnerships, and specialized solutions. Banks were then scored using a weighted system that prioritized recency, scale, strategic importance, and evidence of successful deployment rather than mere announcements.

This systematic evaluation resulted in four distinct categories: Market Leaders (demonstrating advanced, integrated infrastructure with comprehensive digital offerings); Fast Movers (showing rapid acceleration in transformation with substantial recent investments); Niche Specialists (exhibiting focused excellence in specific digital domains); and Emerging Innovators (implementing strategic foundational initiatives that position them for future growth). The position of each bank was determined by the breadth, depth, and sophistication of their digital initiatives, with particular attention to their transformation trajectory and demonstrated capabilities.

Note: This analysis is based solely on publicly available information as of March 2025, including bank websites, press releases, industry reports, and partner announcements. While we have made every effort to ensure accuracy, the dynamic nature of digital transformation means positions may evolve rapidly. For clarification or additional information, please contact: [email protected]

 

Key Insights

Mid-sized banks in the Middle East are transforming their digital capabilities by modernizing core systems, expanding financial accessibility, and strengthening partnerships. Unlike fintech disruptors or large financial institutions, they are focusing on targeted digital upgrades that balance innovation with operational stability.

• Strategic Partnerships Are Strengthening Digital Capabilities
  Collaborations with fintech firms, cloud providers, and payment technology companies are accelerating digital banking initiatives. Banque Saudi Fransi (BSF) is enhancing its digital banking experience through Backbase, while MIDBANK and Ajman Bank are expanding digital payments with Visa and Aani Instant Payments. These partnerships are helping banks scale services efficiently, reduce infrastructure costs, and introduce new financial products faster.

• Banking Is Expanding Digital Financial Accessibility
  Digital banking is becoming more seamless and customer-centric, with institutions like Emirates Islamic Bank integrating fully online banking platforms and embedded finance solutions. Features such as WhatsApp Banking, digital onboarding, and personalized banking tools are allowing these banks to offer Shariah-compliant financial services with the same ease and accessibility as conventional banking.

• Real-Time Payments and Automation Are Improving Financial Efficiency
  Instant payment platforms and digital automation are enhancing transaction speed and customer experience. Ahlibank Qatar’s Fawran service is supporting instant transactions for individuals and businesses, while Al Rayan Bank Group’s integration with Qatar’s Real-Time Gross Settlement System is ensuring seamless, high-value digital payments. Automation-driven digital platforms are streamlining operations, reducing processing times, and enhancing financial management for both retail and corporate clients.

• Blockchain Is Strengthening Security and Trade Finance Operations
  Blockchain adoption is extending beyond fraud prevention to trade finance, digital identity verification, and cross-border payments. United Arab Bank (UAB) and Al Masraf are integrating UAE Trade Connect for real-time fraud detection in trade finance, while Arab Jordan Investment Bank (AJIB) is using blockchain-based settlement platforms to reduce transaction delays and improve transparency. These solutions are reinforcing security while enabling more efficient financial transactions.

• Core Banking Modernization Is Enabling Scalable Growth
  Many mid-sized banks are overhauling their core banking systems to enable faster processing, better security, and seamless digital service expansion. National Bank of Oman (NBO) is adopting Finastra’s core banking system, while Banque Saudi Fransi (BSF) is upgrading with TCS BaNCS. These modernizations are allowing banks to introduce new financial products, enhance user experience, and integrate with evolving fintech ecosystems.

 

Opportunities

Mid-sized banks in the Middle East are navigating a complex digital landscape, where modernization comes with both challenges and opportunities. While they are upgrading legacy infrastructure and expanding digital services, they are also facing operational constraints, evolving customer expectations, and increased competition. By addressing these challenges, they are unlocking new avenues for growth and differentiation. The rise of digital onboarding, real-time payments, and SME-focused trade finance solutions is creating opportunities for banks to expand financial accessibility, streamline transactions, and strengthen their market position. However, sustaining this momentum requires continuous investment in digital infrastructure, regulatory compliance, and customer-centric innovation.

AI-driven automation and analytics are playing a critical role in modern banking, allowing mid-sized banks to enhance operational efficiency, strengthen financial security, and refine strategic decision-making. As customer expectations evolve and regulatory requirements become more complex, AI is enabling banks to process vast amounts of data in real time, reducing manual intervention and improving accuracy across various banking functions. Here are some ways AI is reshaping banking operations and driving digital transformation:

• Credit Risk Assessment & Loan Underwriting – AI is refining credit evaluations by analyzing historical data, alternative credit indicators, and customer behavior, allowing banks to offer more accurate risk profiling and personalized lending options.
• Fraud Detection & Prevention – AI is continuously scanning transaction patterns to detect anomalies and prevent fraudulent activities, enabling banks to strengthen security and respond to threats in real time.
• Transaction Monitoring & Compliance – AI is automating compliance checks and regulatory reporting, ensuring transactions adhere to legal frameworks and minimizing the risk of non-compliance penalties.
• Customer Engagement & Service Automation – AI-powered chatbots and virtual assistants are enhancing customer interactions, providing instant support, resolving queries, and streamlining digital banking experiences.
• Operational Efficiency & Workflow Automation – AI is optimizing back-office processes, reducing manual workloads, improving workflow efficiency, and ensuring faster turnaround times for banking operations.
• Personalized Financial Services – AI-driven recommendation engines are analyzing customer spending habits and financial goals, helping banks offer tailored financial products and advisory services.

 

Omdena’s AI Lab Capacity Building program is helping mid-sized banks bridge the gap between AI awareness and real-world implementation. While many banks are exploring AI, progress often slows after initial training, as organizations struggle to identify practical use cases, align AI with business goals, and build working solutions. Without structured guidance, AI remains an untapped resource, leaving potential improvements in fraud detection, credit risk assessment, and customer experience unrealized. To address this, Omdena is enabling banks to move from theoretical learning to hands-on AI adoption, ensuring that AI becomes an integral part of decision-making and operations.

Through a structured process of AI upskilling, use case ideation and prototype development, banks are learning to identify high-impact AI applications and build functional models. Business and IT teams are working together to explore AI-driven efficiencies, ensuring solutions are both technically feasible and strategically relevant. By the final stage, banks are not just experimenting with AI—they are integrating AI models into their workflows, testing them in real banking scenarios, and preparing for long-term scalability. This approach allows banks to take control of their AI journey, ensuring that AI-driven innovation is developed in-house and aligned with business needs.

Learn more: omdena.com/ai-in-banking