- Aimed at businesses of all sizes, the proprietary ecosystem delivers significant cost and time efficiencies
Abu Dhabi, UAE; 20 January 2022: Abu Dhabi Islamic Bank, a leading financial institution, has been awarded the Best Business Ecosystem Platform in 2021 by The Asian Banker during the Middle East and Africa Transaction Finance and Bank Quality Awards.
The award recognises the implementation of a digital ecosystem that allows the integration of a payment gateway with a digital wallet for one of ADIB’s largest corporate customers. The initiative enables end users to make payments directly via their card through the platform and facilitate the collection process for the customer.
Michael Gregory Davis, Global Head of Wholesale Banking Group at ADIB said: “By tailoring the ecosystem to our client’s unique requirements, ADIB created a single, seamless solution facilitating live reporting and reconciliation of millions of automated transactions. We were delighted to deliver significant cost savings and efficiency gains for our client whilst also improving the end-user experience.”
As part of their vision of becoming the world’s most innovative Islamic bank, ADIB has been investing in digital platforms in order to leverage the innovative potential of these digital tools beyond the traditional scope of banking. ADIB’s efforts in the realm of banking innovation have been widely recognised. Previously, the bank was named “World’s Best Islamic Digital Bank” by Global Finance and the Best Bank in the UAE by Forbes magazine.
About The Asian Banker Transaction Finance Awards
The Asian Banker Transaction Finance Awards is an annual awards programme that recognises outstanding leadership in the areas of cash management, trade finance, and supply chain finance and payments among financial institutions in the Middle East, Asia Pacific, and Africa regions.
The virtual award ceremony was held in November 2021, and featured prominent regional institutions, all of which underwent a stringent evaluation over the four-month research period that was required to evaluate the nominees.
ADIB is a leading Islamic bank with more than AED 133 billion in assets that was established in 1997 with its shares traded on the Abu Dhabi Securities Exchange (ADX). Over 1 million customers benefit from its large distribution network of 70 branches and more than 500 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. ADIB remains one of the leading banks in the recruitment, development and promotion of local talent. The bank has one of the highest Emiratisation ratios with more than 40 percent of the bank’s workforce being UAE Nationals. ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar.
Named “Best Islamic Bank globally” by The Financial Times’ The Banker publication and Best Bank in the UAE by Forbes, ADIB has a rich track record of innovation, including introducing the world’s first digital Islamic bank for youth and being the first bank in the UAE to enable account opening through facial recognition.
For media information, please visit www.adib.ae or contact:
Head of External Communications
Direct: +971 2 6910169
Director of Financial Communications
© Press Release 2022
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