Abu Dhabi : Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has collaborated with DIFC FinTech Hive for the fifth consecutive year to host a ‘speed meeting’ session for some of the world’s most promising and innovative FinTech companies.
The session presented an opportunity for FinTech start-ups, including two from the UAE, and six from other countries including Egypt, the United States, United Kingdom, Czech Republic and Singapore, to pitch their propositions and engage in productive one-to-one discussions with ADIB’s senior executives and digital banking experts.
With concepts including Islamic FinTech, mobile payments, AI financial assistance, SME finance, and blockchain trade finance, the start-ups may continue to collaborate with ADIB to create impactful solutions that can complement the bank’s evolving digital offering to enhance the customer experience.
Philip King, Global Head of Retail at ADIB, commented: “It’s a hugely exciting time in FinTech as new innovations come through the start-up community. The UAE also offers a vibrant FinTech start-up ecosystem with leading firms being founded here, and international FinTechs coming here to collaborate, which is why this DIFC FinTech Hive speed meeting event is so valuable.
“ADIB’s ambition is to become the world’s most innovative Islamic bank and partnering with leading FinTechs both from the UAE and other markets is a key part of our strategy. We very much hope to explore how these kinds of innovations can be made available to our customers and clients at scale.”
ADIB is an active supporter of the DIFC FinTech Hive, a first-of-its-kind accelerator, launched by the Dubai International Financial Centre to drive the development and growth of the FinTech ecosystem in the UAE.
Raja Al Mazrouei Executive Vice President of DIFC FinTech Hive expressed: “The accelerator programmes that we offer at FinTech Hive contribute directly to shaping the future of the financial services sector in the UAE. The programme’s unique positioning in the region is made possible through the continued support of partners such as ADIB who understand the continuous changes in the market and the need for openness to innovation and tech solutions to expand and strengthen the FinTech ecosystem. This year we are proud to have scouted 8 start-ups that addressed ADIB’s priorities for the year and were pleased to host a successful and valuable speed meeting event for everyone to come together and share energy and ideas.”
ADIB has embarked on a progressive digital transformation journey with one of the most digitally active customer bases in the UAE. Recent innovations include the launch of Amwali, the world’s first Islamic digital banking service designed specifically for young people, and being the first bank in the UAE to offer remote account opening using Government-backed facial recognition software.
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About ADIB
ADIB is a leading bank in the UAE with more than AED 127 billion in assets. The bank also offers world-class online, mobile and phone Islamic banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Islamic Retail, Corporate, Business, Private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).
ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq.
Named the no. 1 UAE bank on the Forbes list of World's Best Banks 2021 and the World’s Best Islamic Bank by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.
For media information, please visit www.adib.ae or contact:
ADIB Edelman
Radwa Shehab Simon Hailes
Head of External Communications Director of Financial Communications
Direct: +971 2 6910169
© Press Release 2021
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