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. —Reuters
