Abu Dhabi Islamic Bank (ADIB) is harnessing emerging technology to upgrade customer experience, further driving excellence through digitisation across all customer and employee journeys, according to Plaza Lopez, Chief Digital Officer of ADIB.
In a conversation with Aletihad, Lopez said the bank has significantly improved transparency in transactions and enhanced engagement with consumers through advanced data analytics.
“Our use of machine learning algorithms allows us to identify potential risks and fraud, thereby improving risk management and minimising financial losses. This commitment has bolstered customer confidence, positioning ADIB as a clear leader in digital banking,” Plaza Lopez said.
He noted that ADIB’s mobile app, used by over one million users, features AI-powered personalised lifestyle offers and chatbots for quick responses.
Its digital home finance service streamlines contract acceptance, eliminating physical signatures, he added.
Plaza Lopez further explained that the AI integration at ADIB incorporates customer service, cybersecurity, and data analytics, with tools like GitHub Copilot optimising workflows, fraud detection through ACE Command Centre, and predictive analytics forecasting customer needs.
Discussing the challenges of digitising traditional banking, he acknowledged “banks often struggle with legacy systems, cybersecurity, regulatory compliance, and building customer trust.”
He assured that ADIB is addressing challenges by implementing agile decision-making processes, prioritising cost-effectiveness without compromising quality, and fostering a customer-centric, innovative environment.
On cybersecurity, he stated, “ADIB incorporates AI and blockchain technologies to bolster security measures. As the digital landscape expands, we have implemented multi-layered defences and embedded cybersecurity into product design. We conduct regular phishing and social engineering exercises to keep employees vigilant against emerging threats.”
The bank has integrated with UAE Trade Connect’s blockchain platform to elevate security in its operations by means of detecting fraudulent trade finance transactions.
Rise of Fintech and Neobanks
Identifying key trends in the UAE’s digital banking landscape, Plaza Lopez highlighted that the rise of fintech and neobanks is pushing traditional banks toward more user-friendly interfaces and personalised services.
“The ongoing adoption of AI, blockchain, and data analytics will enhance risk management, fraud detection, and overall customer experience,” he said.
In discussing financial inclusion, he said that ADIB is endorsing financial inclusion through products like Amwali, the world’s first Islamic digital offering for Gen Z, and endeavours to support underserved segments.
This approach, using fintech, broadens access to financial services in the UAE and beyond. Moving to open banking, he said that it plays a crucial role in ADIB’s digital strategy.
“The bank launched its API developer portal to boost open banking within the UAE, allowing fintech developers to build applications that interact seamlessly with our services. This initiative is part of the broader strategy to foster collaboration between ADIB and fintech innovators,” he said.
Balancing innovation with regulatory compliance is also a priority. He said that ADIB promotes innovation and regulatory compliance by participating in regulatory sandboxes, ensuring consumer protection, and collaborating with governments to align its innovations with local and international regulations.
Continuing onward, Plaza Lopez outlined ADIB’s priorities, “Our focus on fintech collaboration, AI integration, cybersecurity, and ESG-related financial products suggests a strong emphasis on continuing our digital transformation and expanding innovative financial solutions.”
Source: Aletihad
