Abu Dhabi Islamic Bank strengthens its digital banking ecosystem

United Arab Emirates – The Islamic Bank of Abu Dhabi (ADIB) has announced that it will continue to develop its digital banking ecosystem and will be at the forefront of banking innovation as more and more customers switch to digital.

In 2021, ADIB recorded an 11% increase in the number of digitally active customers. Currently, the bank has more than 700,000 connected customers, which represents a record 75% of customers active daily or weekly.

ADIB has invested heavily in areas that will help it grow further in the future, in line with its vision to become the most innovative Islamic bank in the world, including launching new products and advancing digital capabilities .

Over the past two years, ADIB has introduced innovative features and services that provide simple and convenient banking services to customers. Currently, around 40% of new customers open their account digitally, thanks to the facial recognition feature. ADIB was the first bank in the UAE to provide this service, which offers the ability to perform immediate and secure verification prior to account opening, and through direct access to the government’s customer database. of the United Arab Emirates.

Around 30% of customers get instant, digital personal finance through the bank’s app. Meanwhile, digital remittances accounted for 98%, while the process of updating customer profiles digitally recorded 79%. Cash withdrawals and check deposits decreased as a percentage at branches. Meanwhile, more than 98% of withdrawals are made digitally, representing a growing reliance on digital payment services.

Digital adoption in corporate banking has also seen strong growth, with Wholesale Banking Group‘s daily transactions peaking at 21,000 in June 2021, representing a 95% increase over the same period. last year. Around 90% of business transactions are conducted digitally, up from 60% last year in 2021. Similarly, the Business Banking department recorded 56,000 transactions in June 2021, up 27% year-on-year. About 92% of those deals were done digitally, up from 75% in 2020 last year.

Sameh Awadallah, Acting Global Head of Retail Banking, said: “ADIB has been consistently moving towards digitalization and has achieved significant milestones in this area. We now have a solid digital infrastructure that we can capitalize on for our customers. We are proud to see the rapid adoption of digital in our retail and enterprise segments. Our teams have constantly worked hard to provide the best digital banking services and tools to our customers to ensure they have everything they need to make easy and simple financial decisions. Our customers can expect more simplicity and convenience this year as we expand our digital offerings and capabilities. »

Over the past year, ADIB has launched a series of new digital initiatives aimed at meeting changing customer needs.

The bank launched ADIB Chat Banking in August, the first Emirati customer service chatbot. The service, accessible via WhatsApp, supports customers with general inquiries, providing instant access to key information about their account and finances. There are now 150,000 customers with a verified chatbot account.

ADIB’s integrated digital kiosks – branded ADIB’s “Smart Tellers” – offer the services of a mini-agency and are available every day of the week, allowing customers to access a wide variety of services and banking products not usually available through traditional ATMs, such as instantly obtaining a personalized card and updating account details.

The bank’s digital ecosystem for automotive needs, “Turbo”, brings together multiple automotive industry partners on a single digital platform to facilitate and centralize all automotive needs of consumers, such as buying and selling cars, takaful car insurance and car financing. .

Amwali is ADIB’s breakthrough proposition that brings together a full range of banking products and innovative technology to enable young customers to enjoy a whole new way of doing paperless, signatureless and branchless banking.

ADIB has launched the Al Ghaf Paperless program, an initiative to eliminate the use of paper in branches through digital banking solutions. Scheduled to be completed by the end of 2022, the first phase of implementing Al Ghaf’s paperless strategy involves minimizing the consumption of more than two million sheets of paper in ADIB branches. by the end of 2021.

Additionally, the bank deployed artificial intelligence technology and robots to clear checks and automate certain processes. The goal is to have 65% of checks cleared digitally and 90% of processes automated, which will result in operational efficiency through reduced check processing time, better risk management and fraud prevention .

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