8 FinTechs pitch propositions to complement digital offerings by ADIB

By Edil Corneille

Abu Dhabi Islamic Bank (ADIB) has collaborated with DIFC FinTech Hive for the fourth consecutive year to host a virtual ‘speed meeting’ session for promising FinTech companies.

The session presented an opportunity for 8 FinTech startups, from countries including the United States, Canada, Singapore, Bahrain and the UK, to pitch their propositions and engage in one-to-one discussions with ADIB’s management and digital banking experts.

With concepts including Islamic FinTech, RegTech, payments, fraud risk and gamification, the startups may continue to collaborate with ADIB to create impactful solutions that can complement the bank’s digital offering to enhance the customer experience.

Talha Khan, Head of Innovation at ADIB stated, “As we emerge from the COVID-19 pandemic, ADIB recognises that FinTechs need our support more than ever before. It was therefore very important to ADIB that we continue conducting these sessions in collaboration with DIFC FinTech Hive.”

He continued, “Though constructive dialogue with the eight FinTech startups, we are keeping updated with the latest trends as well as finding new opportunities for potential collaborations and partnerships. Hosting this event is greatly valuable in helping us explore emerging and innovative financial technologies to keep ADIB at pace with evolving client needs, especially during this time.”

ADIB has mentioned that is an active supporter of the DIFC FinTech Hive, an accelerator launched by the Dubai International Financial Centre to drive the development and growth of the FinTech ecosystem in the UAE.

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ADIB has mentioned that it has embarked on a progressive digital transformation journey that includes the ADIB Simple Lab, a modern and collaborative workspace for its innovation team, as well as a network of FinTechs, digital start-ups, and innovators with the aim of creating transformative banking and finance solutions. In addition, the financial institution has made sure to accommodate its customers’ needs during COVID-19 by launching several solutions allowing customers remote access to the banking services.