- The digital platform is expected to host more than a million businesses worldwide by 2022
Abu Dhabi: Abu Dhabi Commercial Bank (ADCB) announced today the official launch of the ADCB Trade Booster platform - an all-new digital platform for fourteen partner banks that make up the Trade Club Alliance.
The new platform, the first of its kind, will help identify businesses that are looking to trade goods internationally and will provide insight on regulations and trade tariffs for the relevant countries. It will provide members with market information on more than 180 countries, including currency analysis, market trends and shipping requirements, serving as a conduit for trusted buyers and suppliers to connect with counterparts in markets around the world.
Samer Younes, Lead Digital Trade Implementation & Channel Management, ADCB said, “ADCB Trade Booster is a unique and exclusive, by-invitation-only, platform for valued clients. It enables them to access a global network of trustworthy businesses not just by connecting them locally and globally with each other but also by identifying opportunities of cooperation while maintaining the highest industry standards.”
Key benefits of the ADCB Trade Booster platform:
- State-of-the-art technologies: uses machine learning and cloud-based services with the best of breed social networking capabilities, comprehensive content and corporate banking advisory;
- Efficiency: helps accelerate the exchange of goods and services by uncovering ideal trade partnership opportunities and then simplifies the transaction process;
- Local support: dedicated “Experts & Community managers” teams are available to offer advice at all stages of exporting and importing activity and financing alternatives;
- Market analysis: over 25,000 market reports from 186 countries;
- Commercial partners: 2,000 directories from 150 countries, 40,000 commercial fairs, 1,000,000 international tenders;
- Manage shipments: databases for over 120 countries;
- Analyse currencies: conversions of 147 currencies and weekly and monthly reports;
- Set up abroad: information on over 182 countries with over 2,500 pages.
ADCB Trade Booster is available to trusted businesses of all sizes and will fully cover sectors including and not limited to healthcare, agriculture, machinery, textiles, chemicals, woods plastics and metals. Each Trade Club Alliance bank is responsible for vetting businesses before they become a member, and will help oversee the admission process, actively identify and facilitate business opportunities and coordinate trade missions on the ground.
Members of the ADCB Trade Booster will be assigned a Digital Business Card, where they can provide details of their business proposition, industry and overarching goals. In addition to the digital platform offering market insight, companies can seek advice on financial products that would suit their needs from any one of the Trade Club Alliance banks.
The full list of partner banks are: Abu Dhabi Commercial Bank, Attiijariwafa Group, Banco BPM, Banco Santander, Royal Bank of Canada, CIMB, Crédit Agricole Group, Eurobank, KBC Group, Industrial Bank of Korea, MUFG, Nordea Group, Siam Commercial Bank, and Standard Bank.
- Ends -
ADCB Group is a leading UAE banking group that provides over 1 million customers with a full suite of products and services, spanning Consumer Banking, Wholesale Banking, Treasury & Investments and Property Management. ADCB operates a network of 72 branches and over 450 ATMs across the UAE.
On 1 May 2019, ADCB and Union National Bank merged and the combined entity acquired Al Hilal Bank, which operates as a separate Islamic banking entity under its own brand within the Group. The transaction reinforced ADCB’s position as the third largest bank in the UAE by assets. As at 31 December 2019, the Group’s total assets stood at AED 405 billion.
ADCB Group, which is 60.2% owned by the Government of Abu Dhabi through the Abu Dhabi Investment Council, trades on the Abu Dhabi Securities Exchange (ADX) under the ticker of ADCB. As at 31 December 2019, ADCB’s market capitalisation was AED 55 billion.
© Press Release 2020