ADIB records surge in demand for digital banking services

These statistics indicate a fundamental shift in customer behavior, and an increase in demand for a convenient and contactless banking experience

  

Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has recorded high levels of digital adoption across its retail and corporate banking services in the first half of 2020. Nearly 60% of ADIB’s retail customers have used digital channels, registering more than 2 million transactions every month as customers conduct a wide range of banking activities, such as applying for cards and financing or paying bills, all from the comfort and convenience of their own home.

During this period, 99% of retail financial transactions, including payments and fund transfers, as well as 93% of non-financial services, including personal information updates, were conducted digitally. In addition, there was a 25% growth in June in the number of customers receiving instant finance through the app compared to the monthly average of previous months. These statistics indicate a fundamental shift in customer behavior, and an increase in demand for a convenient and contactless banking experience.

ADIB has also witnessed similar trends in its corporate banking segment. Over 60% of ADIB’s business customers have actively used ADIB Direct, an innovative banking platform providing automated trade finance services. With recent enhancements to the platform, ADIB generated a 65% growth in digital payments, and a 28% increase in new users.

Philip King, Global Head of Retail banking at ADIB, said: “Digital banking is a central pillar of ADIB’s growth strategy. ADIB’s investment into its digital transformation strategy has yielded substantial benefits including strong customer and transactional growth. We are determined to build on this momentum by further enhancing our digital banking proposition, ensuring that customers have full access to ADIB’s comprehensive suite of banking services through our mobile app and online platforms.

“Recent unprecedented challenges have significantly accelerated the demand for banking channels that offer convenient, seamless and uninterrupted banking services. As a leading regional bank, ADIB is adapting to evolving customer needs while taking a long-term view that we are undergoing a paradigm shift in digital banking that will drive the sector’s growth in years to come.”

ADIB has launched several innovative solutions to allow customers have remote access to their banking services. This month, the bank introduced a digital booking service enabling customers to schedule their branch visits ahead of time through the online banking platform and mobile banking app. In addition, customers can now virtually apply for personal finance, covered card or update their personal information such as their Emirates ID, Passport and contact details without having to visit the branch.

ADIB’s efforts to remain at the forefront of digital banking have been widely recognised. ADIB was named “Middle East’s Best Islamic Digital Bank” by Global Finance. It has also been named Innovator in Islamic Finance’ for 2020 by Global Finance magazine.

About ADIB

ADIB is a leading Islamic bank with more than AED 122 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.

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