June 22, 2024

ADIB Witnesses Surge in Digitalized Banking Channel Utilization

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Abu Dhabi Islamic Banking New Head Quarters

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has announced recently that it has registered a huge surge in its digital banking channel usage during the initial quarter of 2022. According to ADIB, 40% of customers’ personal finance applications are now taking place digitally on its mobile app, up from 30% in Q1 last year.

The Bank currently has over 700,000 customers who are digitally active, a testament to the growing demand for digital services including personal finance. In order to meet the increasing demand for services and products that are available through its digital channels, ADIB announced the launch of the ‘Express Finance Cashback Campaign’, which offers the clients the ability to retrieve up to 1000 AED when applying for personal finance using the mobile app.

The Campaign which will run till July 5, 2022, includes up to two installment postponements every year with a first installments payment grace period of up to 120 days.

ADIB added that their express finance was unveiled to offer their clients easier access to personal finance through ADIB mobile app. This service, which was developed in ADIB’s digital lab, aims to enable eligible customers to obtain financing instantly.

Industry Sources added that the pre-approved ADIB customers seeking personal finance can now complete all application steps on their smartphone via ADIB’s state-of-the-art mobile app and receive their funds the same day without the need to visit any of our branches or manually sign any document. While the process for customers is quick, easy, and secure, the risk methodology applied by the bank is still rigorous to ensure customers are getting a finance facility within their means.

Sameh Awadallah, Acting Global Head of Retail Banking at ADIB, commented: “We are witnessing an increasing demand from customers for services on digital channels, which is a natural and expected trend given the high pace of adoption of digital technologies, which customers today prefer as a convenient option to conduct their banking transactions wherever they are and without the need to visit the branches. Digital banking is a cornerstone of our growth strategy.”

He added: “We are now beginning to reap the significant benefits of our investment in the digital transformation strategy, which is translated into the strong growth in the number of users of our digital platforms and the transactions made through it. As part of our endeavor to establish ADIB as the most innovative Islamic bank, we seek to enhance the features of our digital banking services to ensure that customers can access the full range of banking services that we offer through our online platforms and mobile app. We are committed to keeping pace with this trend and working to provide more digital products and services.”

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