Abu Dhabi Islamic Bank to help lead ‘Open Banking’ revolution for UAE

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Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced that it has launched its first Application Programming Interface (API) developer portal, allowing fintech developers to use ADIB APIs for the purpose of developing their own applications.

The new ADIB API Developer portal will drive Open Banking in the market, allowing fintech developers to build new products that interact seamlessly with ADIB’s platforms. This means that ADIB customers will be able to connect a new world of secure apps and services to their banking easily, including the ability to see accounts held with other providers through their ADIB mobile app.

ADIB’s Open Banking API platform follows UK Open Banking standards. It aims to provide a range of data to access, use and share by Third-Party Providers (TPPs) such as payment initiators, account aggregators, and other fintechs to deliver new digital services to meet customer and market expectations. Open Banking also offers customers more control over their financial data. The portal complies with the highest international standards on data privacy, ensuring the security of customers’ personal data.

ADIB API developer platform comes as part of ADIB’s vision to become the world’s most innovative Islamic bank. It fully embraces the opportunities of Open Banking which has the potential to revolutionize the industry and the way that people manage their money and do their banking.

ADIB API portal will make it really simple for developers to build services that work seamlessly with ADIB’s platforms, and to deliver even more exceptional customer experiences.

ADIB’s efforts to be at the forefront of banking innovation have been widely recognised. The bank was recently awarded the Best Business Ecosystem Platform in 2021 by The Asian Banker during the Middle East and Africa Transaction Finance and Bank Quality Awards. In recent months the bank has launched Amwali, the UAE’s first digital banking platform designed to empower young people.—Zawya News