ADIB supports UAE FinTechs with Startupbootcamp session at ADIB Simple Lab

ADIB's digital banking experts imparting their advice to the FinTech founders while exploring opportunities for potential collaboration in future.

  

Abu Dhabi:Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has hosted a “pitch session” at the ADIB Simple Lab for 10 pioneering UAE FinTechs from the Startupbootcamp’s 2020 programme.

At the event, the FinTechs, which included start-ups providing payments, wealth management and financing solutions, were given the opportunity to pitch their solutions to members of ADIB’s team representing different divisions across the bank. The session featured a thought-provoking exchange of ideas, with ADIB’s digital banking experts imparting their advice to the FinTech founders while exploring opportunities for potential collaboration in future.

Commenting on the event, Serhat Yildirim, Chief Digital officer at ADIB, said: “ADIB continues to deepen its relationship with the UAE’s digital ecosystem through engaging in meaningful discussions and collaboration with leading FinTech start-ups. Through this event, we were able to share our expertise with emerging financial entrepreneurs while understanding future technologies that will enable us to better serve evolving client needs. ADIB understands that the success of the UAE’s banking sector relies heavily on collaborations between established financial institutions and FinTech entrepreneurs and this is exactly what our partnership with Startupbootcamp seeks to achieve.”

ADIB is an active supporter of the Startupbootcamp, a global accelerator programme founded in 2010, that helps guide innovative start-ups through the first steps of their journey. Startupbootcamp provides mentorship and capital to start-ups, having made over 420 investments across 16 cities. The organisation’s Dubai FinTech programme aims to accelerate 40 start-ups across fields impacting financial services.

ADIB has made strong progress on its digital transformation strategy having launched the  ADIB Simple Lab, a modern and collaborative workspace for ADIB’s innovation team, in 2019. From the ADIB Simple Lab, the bank has launched several intuitive Sharia'a-compliant digital products including “Express Finance” via the mobile app, which provides qualifying customers with instant access to personal finance in as little as 30 minutes.

ADIB has received numerous awards for its digital banking offering in recent months including ‘Best Islamic Digital Bank’ by Global Finance. The bank was also named ‘World’s Best Islamic Bank’ by the FT’s The Banker Magazine, ‘Best Premium Banking Service in the UAE’ from Banker Middle East, and ‘Best Islamic Bank’ at the EMEA Banking Awards.

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