UAE’s First Abu Dhabi Bank (FAB) has embarked on the next step of its digital transformation journey by enhancing its digital platforms in a hybrid cloud environment with the support of IBM Consulting.
The move is aimed at enabling a seamless digital experience to the bank’s customers.
In line with this, IBM Consulting will provide FAB with deep industry expertise in the areas of banking, hybrid cloud and application modernisation to enhance the bank’s ability to faster develop new products and digital services.
Additionally, IBM’s team of experts will work with FAB to modernise existing applications and further enhance the digital footprint of FAB’s customers.
Over the past few years, FAB has undergone a transformation designed to put the bank at the forefront of the industry by digitising retail banking products and services. Today the bank has rolled out a wide range of digital banking new offerings to meet customers’ digital needs, which has positioned the bank for future growth and ongoing agility.
“As we accelerate into the future of banking, we need to leverage the latest innovations to underpin our ongoing digital transformation efforts to meet our customers’ increasing digital needs,” said Srinivasan Sampath, Acting Group Chief Technology Officer – First Abu Dhabi Bank.
“IBM has been essential in our services’ delivery for the past years, and this agreement maintains our relationship to allow us to continue innovating and transforming the way we interact with our customers.”
The digitalisation of the UAE’s financial services sector has accelerated during the pandemic, as consumers increasingly relied on the convenience of mobile apps to access their banking services.
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According to the IBM Institute for Business Value (IBV), 71 percent of banks in the UAE have realised substantial or significant value from modernising business processes and applications.
Christian Noll, Managing Partner, IBM Consulting – Middle East and Africa, said, “IBM is bringing its leading edge capabilities, deep industry experience and leadership in financial services, and understanding of the specific regulatory compliance, security and resiliency needs for the banking industry to help FAB transform and bring innovative experiences to its customers. We are proud to be on this digital transformation journey with FAB, an innovation leader in the banking industry in the UAE.”
