Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has announced today that it has registered a significant increase in its digital banking channels usage during the first quarter of 2022. According to ADIB, 40% of customers’ personal finance applications are now taking place digitally on its mobile app, up from 30% in Q1 last year.
The Bank currently has over 700,000 customers who are digitally active, a testament to the growing demand for digital services including personal finance. In order to meet the increasing demand for services and products that are available through its digital channels, ADIB announced the launch of the ‘Express Finance Cashback Campaign’, which provides customers with the ability to retrieve up to 1000 AED when applying for personal finance using the mobile app. The Campaign which will run till July 5, 2022 includes up to two instalment postponements every year with a first installment payment grace period of up to 120 days.
ADIB express finance was launched to provide customers with easier access to personal finance through ADIB mobile app. This service, which was developed in ADIB's digital lab, aims to enable eligible customers to obtain financing instantly. Pre-approved ADIB customers seeking personal finance can now complete all application steps on their smartphone via ADIB’s state of the art mobile app and receive their funds the same day without the need to visit any of our branches or to manually sign on any document. While the process for customers is quick, easy and secure, the risk methodology applied by the bank is still rigorous to ensure customers are getting a finance facility within their means.
Sameh Awadallah, Acting Global Head of Retail Banking at ADIB, commented: “We are witnessing an increasing demand from customers for services on digital channels, which is a natural and expected trend given the high pace of adoption of digital technologies, which customers today prefer as a convenient option to conduct their banking transactions wherever they are and without the need to visit the branches. Digital banking is a cornerstone of our growth strategy. We are now beginning to reap the significant benefits of our investment in the digital transformation strategy, which is translated in the strong growth in the number of users of our digital platforms and the transactions made through it. As part of our endeavor to establish ADIB as the most innovative Islamic bank, we seek to enhance the features of our digital banking services to ensure that customers can access the full range of banking services that we offer through our online platforms and mobile app. We are committed to keeping pace with this trend and working to provide more digital products and services.”
ADIB is currently promoting its digital transformation program in order to enhance productivity and improve the banking customers experience. ADIB has witnessed a rapid growth in the rate of use of its digital channels. And has recently won several awards in recognition of its success in digital banking solutions and retail banking, including the “Best Islamic Digital Bank” award from Global Finance magazine.
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 more information, please visit www.adib.ae or contact:
Lamia Khaled Hariz Simon Hailes
Head of Public Affairs Director of Financial Communications