Abu Dhabi Islamic Bank reports surging popularity of digital platform
By Andrei Skvarsky.
Abu Dhabi Islamic Bank (ADIB) said deals carried out through its ADIB Direct digital banking platform for businesses have grown in number by 88 per cent since the lender launched the facility in 2019.
ADIB Direct offers a suite of solutions and is accessible through the internet, mobile phones and smart watches, the bank said in a statement. Services provided through the platform include customisable dashboards, a working capital view, cash flow forecasting and trade finance management.
ADIB Direct “has benefited 22,588 MSMEs (micro, small and medium enterprises)” but is aimed at businesses of all sizes, ADIB said.
The proportion of transactions carried out in person at ADIB branches dropped to 14 per cent in 2022 from 33 per cent since ADIB Direct was launched, according to the bank, which provides a diversity of digital services besides ADIB Direct.
Altogether 700,000 customers use ADIB’s digital platforms, according to the statement.
Over the past year, ADIB has rolled out various digital initiatives, including remote account opening via a facial recognition system, chat banking and amwali accounts – parentally controlled digital accounts for children and teenagers, the bank said.
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