Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has celebrated its momentous 20th anniversary with a new promise to customers. The bank has pledged to continue enhancing customers’ banking experience, reiterating its commitment to delivering the latest technology, products and services through a US$100 million digital transformation strategy.
Since its foundation, ADIB has represented a pillar of the global Islamic banking industry while also making significant contributions which support the growth and diversification of the UAE economy.
ADIB is upgrading all aspects of its infrastructure to ensure the bank provides a secure and personalised offering through innovative technologies and data analytics. As part of its digital transformation strategy, ADIB is investing $100 million in technology, revamping all delivery channels and banking platforms to enable customers to conduct their banking in a simpler and more intuitive manner.
The bank will soon launch a pioneering digital personal finance offering, bringing a uniquely modern twist to a conventional service. It will also offer online cash and trade management solutions allowing corporations and SMEs to manage their trade transactions and project their cash positions seamlessly and with effectiveness.
On this occasion, Khamis Buharoon, ADIB Vice Chairman and acting CEO, said: “Since its foundation, ADIB has excelled and distinguished itself in many fields. Whether it is contributing to the UAE’s economic development, providing innovative banking solutions, developing local talent, or offering superior banking experiences, ADIB has always set the bar high, never settling for anything short of the best. Earning the trust of our loyal customers during these 20 years is perhaps the thing we take pride in the most. We recently welcomed our one millionth customer in the UAE, nearly double the number we had five years ago.”
He added: “The proliferation of smart data and the introduction of new life-changing technologies have significantly improved the quality of service we can deliver to customers. With our digital transformation strategy will transform the way we interact with customers, providing a simpler and more personalised customer experience in our branches and through our digital channels. We will enhance the process for onboarding customers, streamlining their access to financing and enriching how they connect with ADIB in their daily lives. At the same time, we will ensure that all customers continue to enjoy the same high-level of service that have come to enjoy and expect from ADIB throughout our illustrious history.”
An initial phase in the bank’s digital transformation strategy was the launch of ADIB Express, a new generation of technology-enabled branch balancing automation with a highly-personalised experience. ADIB Express branches have been welcomed by customers as staff now have more time to spend on addressing customers’ specific needs and delivering tailored financial advice.
ADIB’s latest milestone has been the successful raise of AED 1 billion through a rights issue aimed at supporting the bank’s growth strategy. The offer for new shares was approximately five times oversubscribed, reflecting the support and faith of the bank’s shareholders in ADIB’s growth strategy. From November 19, 2018, ADIB’s Board of Directors approved non-Emiratis to own up to 25 percent of its issued capital, further boosting and diversifying the bank’s register of shareholders.