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Abu Dhabi Islamic Bank has recorded a surge in demand for digital banking services in the first half of 2020, as more people opted for the electronic route in light of the coronavirus outbreak.
“Recent unprecedented challenges have significantly accelerated the demand for banking channels that offer convenient, seamless and uninterrupted banking services,” Philip King, Global Head of Retail banking at ADIB, said.
“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,” King said.
Close to 60 percent of the bank’s retail customers used digital channels during the period, registering more than 2 million transaction per month, ADIB said in a statement.
In the first six months of the year, 99 percent of retail financial transactions and 93 percent of non-financial services were done through digital channels.
The month of June saw a 25 percent growth in the number of customers receiving instant finance through the bank’s app, compared to the average of previous months.
Similar trends were observed in the corporate banking segment. More than 60 percent of the bank’s business customers used the platform ADIB Direct, while digital payments grew 65 percent and new users rose 28 percent.
(Writing by Gerard Aoun, editing by Seban Scaria)
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