|12 February, 2019

Abu Dhabi Commercial Bank launches strands-powered PFM app   

ADCB has gone live in the United Arab Emirates with its personal finance management (PFM) application built on Strands' technology

BARCELONA, Spain: ADCB has gone live in the United Arab Emirates with its personal finance management (PFM) application built on Strands' technology. The MoneyBuddy app helps ADCB customers understand and manage their finances in a smarter and more independent way.

Abu Dhabi Commercial Bank is introducing a new way of communicating with its clients, focusing on a transformative user experience and offering their users all the tools they need to get a 360º snapshot of their entire financial world.

Strands has a proven track of record of developing and delivering highly-customizable digital money management software to top-tier banks worldwide - and was selected by ADCB as their key FinTech partner for that journey.


More than half a million ADCB customers can already benefit from the MoneyBuddy PFM app functionalities, allowing them to:

  • Track their spending, savings goals and budgets
  • Predict how purchases will impact their overall financial health
  • Understand their monthly cash flow so they're never caught unaware

Moreover, to speed up the customer onboarding process in MoneyBuddy, iOS users are able to log into the app through Face ID, a biometric facial recognition technology.

According to ADCB, customer feedback has been outstanding so far, with registrations currently doubling their initial target. MoneyBuddy has already achieved a rating of over 4.5 in app stores.

Strands' value-added solutions enable deeper and mutually beneficial long-term value between ADCB and its customers, helping them cement their commitment to relationship banking. 

About ADCB 
ADCB was formed in 1985 and as of 31 December 2018 employed over 5,000 people from 84 nationalities, serving retail customers and corporate clients in 49 branches, in addition to the 2 SimplyLife Sales & Service Centers and 4 uBank Centers in the UAE, 2 branches in India, 1 branch in Jersey and representative offices in London and Singapore.

ADCB is a full-service commercial bank which offers a wide range of products and services in both conventional and Shari'ah compliant banking, operating in Consumer Banking, Wholesale Banking, Treasury and Investments and Property Management.

About Strands  
Since 2004, Strands has been leveraging extensive expertise in Big Data and Machine Learning to develop AI-based, highly-customizable digital money management software.

By working with top-tier financial institutions worldwide and serving more than 600 bank implementations, Strands promotes financial wellness for both individuals and business customers.

Miriam Ballesteros, ,

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases