ADIB Launches ‘ADIB Ventures’ to Drive Fintech Innovation
Date
10/12/2024 3:00:45 AM
(MENAFN- Edelman) Abu Dhabi, UAE; 10 October 2024: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, has launched ADIB Ventures, a new strategic initiative designed to accelerate innovation and collaboration within the global financial technology (fintech) sector. The program aims to strengthen ADIB’s position as a leader in digital transformation.
Through ADIB Ventures, the bank plans to create a robust ecosystem by connecting with emerging fintech players and integrating advanced technologies and Gen AI to enhance the banking experience for over 1.3 million customers. By collaborating with disruptive fintechs, ADIB seeks to introduce new offerings that cater to the rapidly evolving needs of tech-savvy customers. Additionally, ADIB Ventures will launch pilot programs and proof-of-concept projects to test and implement cutting-edge technologies that can transform the future of Islamic banking.
Commenting on the initiative, Mohamed Abdelbary, Acting Group CEO of ADIB, said: "ADIB Ventures is a key element in our 2035 vision as it represents our approach to redefine banking by harnessing the power of fintech innovation. Our goal is to lead the future of digital finance, setting new standards of excellence while ensuring that our clients benefit from cutting-edge, customer-focused solutions that are deeply rooted in our Islamic principles.
"Through ADIB Ventures, we aim to build a thriving ecosystem of innovation by partnering with fintech disruptors and accelerating the development of digital solutions that cater to the evolving needs of our customers. This initiative further strengthens our position as the world’s most innovative Islamic bank, empowering us to drive growth across the region and beyond," he added.
ADIB Ventures' launch is part of the bank’s broader strategy and vision 2035. The initiative’s key pillars include forming partnerships with fintech startups to revolutionise financial services, positioning ADIB as a l leader in fintech innovation, and piloting emerging technologies to enhance the digital banking experience like investing in AI related technology. By focusing on customer-centric digital solutions, ADIB aims to continue transforming the banking landscape while ensuring that all offerings remain strictly aligned with Islamic finance principles.
ADIB’s commitment to innovation through ADIB Ventures underscores its ambition to advance digital transformation and solidify its role as a key enabler of the fintech ecosystem in the GCC and beyond. With the support of its strategic partnerships and technology platforms, ADIB is well-positioned to lead the future of Islamic digital banking on a global scale.
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