ADIB launches "Smartbanking" digital proposition for millennial customers

Pioneering proposition is aimed at large digitally-savvy population and centred around the millennials' lifestyle

  
ADIB launches Smartbanking digital proposition for millennial customers
  • Customers can digitally apply for an account and benefit from a seamless and convenient and on-the-go approach to financial services

Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched a new digital banking proposition targeting millennials called Smartbanking. Smartbanking features digital onboarding and a range of innovative products delivered through a dedicated mobile banking app and intuitive online banking platform.

Commenting on the launch, Philip King, Global Head of Retail Banking at ADIB, said: “Smartbanking by ADIB represents a new paradigm for banking in the UAE. The entire proposition was designed with millennial customers in mind, as our research shows that this segment’s expectations for banking services are shaped by their lifestyle and day-to-day mobile applications. Millennials are more inclined to seek peer recommendations when it comes to brand choice and expect banking services to be simple and accessible, with banking solutions delivered instantly.”

“We have worked closely with a focused community of Gen Y Early adopters to design a banking offering which fits their lifestyle and financial needs. Centred around innovative digital platforms, Smartbanking provides a highly efficient, personalised banking experience uniquely integrated with our online community moneysmart.”

Customers can open a Smartbanking without having to visit a branch, and only schedule the delivery of the welcome pack and debit card at the time and place of their convenience. Customers can deposit funds into their accounts immediately or carry out any routine transaction like transfers and paying bills, free of any fees. Pre-approved customers can also apply for a personal finance through the Express finance feature on the application and can customise their financing package and design a bespoke repayment programme based on their particular needs. In addition to that, Smartbanking allows users to also ‘text’ payments to friends in their contact list simply by selecting a contact number or a moneysmart community nickname for instant transfers.

Smartbanking accounts are also linked directly to moneysmart.ae, the region’s first digital community for personal finance, where people can exchange information and advice with peers and experts. The moneysmart community carries finance related articles, blogs and tips.

The new digital banking proposition is part of ADIB’s digital transformation strategy that saw the launch of “Express Finance” through the ADIB mobile app, which provides qualifying customers with instant access to personal finance. Customers can also now update their personal information such as their Emirates ID, Passport and contact details through the app without having to visit the branch.

ADIB was recently awarded as the “Middle East Islamic Digital Bank” by Global Finance in recognition of ADIB’s efforts to be at the forefront of digital banking.

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About ADIB

ADIB is a leading Islamic bank with more than AED 124 billion in assets. Established in 1997, the bank provides world-class, Sharia’a-compliant retail, corporate, business, private banking and wealth management solutions through award-winning digital channels and across an extensive branch network. The bank has a presence in six strategic markets, including Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq. Its shares trade on the Abu Dhabi Stock Exchange (ADX).

ADIB has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent across all of its geographies. The bank has one of the highest Emiratization ratios and approximately 36 percent of the bank’s workforce are UAE nationals.

Named ‘World’s Best Islamic Bank’ by the Financial Times’ The Banker publication, ADIB has a rich track record of innovation based on a desire to always improve its customers’ banking experience. Amongst other benefits, the bank’s recent digital transformation programme has led to the creation of a new generation of technology-enhanced branch, ADIB Express, which combines the benefits of digital banking with a highly-personalised customer service, and Express Finance, providing qualifying customers with access to personal finance through a mobile app in less than 30 minutes.

For media information, please visitwww.adib.ae or contact:
ADIB                                                             Brunswick Group
Radwa Shehab                                              Sarah Abdelbary
Head of External Communications                  Account Director
Direct: +971 2 6910169                                Direct: +971 2 234 4600
Mobile: +971504734482                                Mobile: +971561748649

© Press Release 2019

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