Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank globally to have migrated to cloud-native architecture using ZERO footprint topology and the first bank in the UAE/GCC to successfully implement Swift’s Alliance Cloud platform. This collaboration will enable ADIB to further upgrade its financial messaging capabilities and leverage advanced technology to deliver secure, efficient, and scalable services to its retail and corporate customers.
According to Industry sources, Swift’s Alliance Cloud solution is a next-generation, cloud-based finance messaging solution designed to modernize payment processes. By transitioning to a Software as a Service (SaaS) model, ADIB has achieved faster and more secure payment processing for retail and corporate clients.
Commenting on the implementation of Swift’s Alliance Cloud Platform, Manoj Bhojwani, Chief Information Officer at ADIB, stated: “This milestone represents a significant stride in ADIB’s pursuit of operational excellence and digital transformation. Our collaboration with Swift highlights our commitment to staying ahead in a rapidly evolving financial landscape, ensuring our customers benefit from secure, efficient, and innovative solutions. This achievement not only strengthens our capabilities but also reaffirms our position as a leader in shaping the future of Islamic banking.”
“We are proud to support ADIB and Swift’s collaboration using our Payments Hub Platform,” stated Michael Wakileh, ProgressSoft’s Chief Executive Officer. “With the successful rollout of cloud prerequisites and our Message Depot for message warehousing, we have enabled ADIB to fully migrate its message screening and controls for Swift. This partnership showcases the strength of ProgressSoft’s technology in driving operational agility, enhancing competitiveness, and ensuring seamless service delivery for ADIB.”
Industry sources further added that this achievement boosts ADIB’s operational resilience by minimizing service downtime and bolstering cybersecurity measures. It underscores ADIB’s Vision 2035, which stresses on building the bank of the future. By eliminating redundant systems and streamlining payment architecture, the bank will achieve significant cost efficiencies while modernizing its infrastructure to meet the evolving needs of its clients.
Industry sources further added that Retail customers can utilize near-instant transaction completion, enabling quicker access to funds and a seamless payment experience, while corporate clients benefit from the ability to manage high payment volumes with greater efficiency and reduced settlement times for global operations. With this strategic move, ADIB continues to elevate its service offerings, reinforcing its commitment to providing secure, efficient, and customer-centric banking solutions.
