Abu Dhabi, October 30, 2019: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched a new innovation centre, known as the "ADIB Simple Lab", to create and invest in new technology in line with the vision of making banking simple, friendly and convenient for customers.
In the ADIB Simple Lab, technology and banking experts collaborate as part of an agile team to take ideas that enhance and simplify customers' banking experience from concept to reality.
ADIB has already successfully launched a number of Sharia'a-compliant digital services from the facility, including "Express Finance" through the ADIB mobile app, which provides qualifying customers with instant access to personal finance. Customers can also now update their personal information such as their Emirates ID, Passport and contact details through the app without having to visit the branch.
Current projects at ADIB Simple Lab include fully digitising the process of opening accounts and covered cards. The bank also continues to enhance its "ADIB Direct" digital transaction banking platform for businesses that integrates a suite of banking solutions into a single, streamlined interface.
"ADIB is deeply committed to driving a holistic digital transformation agenda that encompasses fostering a digital culture within the organisation, re-designing the bank's technology infrastructure, and leveraging technology to deliver simple, convenient banking services for our customers," said Serhat Yildrim, Chief Digital Officer at ADIB.
"We have created a stimulating and engaging environment at ADIB Simple Lab, which encourages out-of-the-box thinking and close collaboration between ADIB's innovation team and the FinTech community leading to rapid progress and the successful implementation of initiatives. ADIB customers are already seeing the benefits, and we intend to ensure that the bank understands their evolving needs to remain competitive in the coming years."
The ADIB Simple Lab occupies a whole floor of ADIB's former head office building in Abu Dhabi, which is large enough to fit an indoor running track and exercise area for employees. Glass-walled rooms, providing a highly creative and synergistic environment, are interspaced by communal areas for social and meal breaks. In addition, there are breakout spaces for brainstorming and an amphitheater space to hold events both internally and with external ecosystem partners.
"This is a collaborative ecosystem designed to incubate, test, and implement innovative banking solutions by leveraging the latest developments in digital technology and customer trends" added Serhat Yildirim. "By cultivating a culture of creativity and innovation, ADIB aims to lead the development of a new generation of banking services in the UAE."
More than just a physical space, the ADIB Simple Lab will become a key platform in establishing strong partnerships with regional FinTech players, startups and digital specialists through events, training and networking sessions. ADIB is an active supporter of the DIFC FinTech Hive, an accelerator programme established by the Dubai International Finance Centre to shape the future of FinTech in the region.