May 18, 2020

Abu Dhabi Islamic Bank announces a partnership with IBM

Banking
IBM
fin-tech
ADIB
Jess Shanahan
2 min
Abu Dhabi Islamic Bank announces a partnership with IBM

Abu Dhabi Islamic Bank (ADIB) announced that it will fundamentally transform how it interacts and provides services to customers by building a new Digital Studio with consulting services from IBM. The new design studio builds on the bank's efforts to innovate and digitise its products and services to enhance customer experience.  The project also includes new IBM MobileFirst for iOS banking apps supported by IBM Cloud that empower the bank's financial advisors to deliver a more dynamic, engaging customer experience. The studio will be the first of its kind in the region.

The rise of FinTechs — smaller, non-traditional firms using technology in the financial services industry — and digitally-empowered customers are triggering an upheaval in how banks reassess their customer experience and customer retention. This is especially true for traditional banks as they fight to improve the cost of customer acquisition and improve their own agility in responding to the market with new products in less time.

As with many banks, ADIB needed to change its culture to fat-track new elegantly designed banking apps. The bank worked with IBM to build the Digital Design Studio, the first of its kind in the region. The new team will work on creating personalised digital experiences for its customers.

Sagheer Mufti, COO, Abu Dhabi Islamic Bank, said: "ADIB aims to be the best digital bank in the UAE and continuously invests in cutting edge technologies to enhance customer experience and introduce innovative new products and solutions to meet the evolving needs of its customers. The introduction of digital studio at ADIB means we now have access to a team of dedicated IBM digital experts with proven experience designing compelling financial services and solutions.  This studio will also play a major role in driving the various initiatives and projects across the bank to accelerate its digital transformation."

The Bank will also deploy the IBM MobileFirst for iOS Trusted Advice app, allowing their financial advisors to easily and securely access and manage client portfolios from their iPads. The app empowers advisors to address the specifics of client needs, from testing recommendations against sophisticated modelling tools all the way to complete, secure transactions. Powered by analytics, the Trusted Advice app provides predictive information that enables advisors to gain quick insight for devising client scenarios and conduct more interactive client planning sessions. Using their iPads, advisors can share graphic-rich data with clients for more engaging, personalized presentations that can be delivered wherever they meet with clients.

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