Abu Dhabi Islamic Bank (ADIB) launched its new Analytics Center of Excellence (‘ACE’), a fully integrated, real-time data analysis & visualisation center. ACE will enable ADIB to drive greater efficiencies, optimise performance and respond to complex market dynamics with agility and speed.
New data for the month of January 2021, published by ACE, reveals that 52% of ADIB’s new account openings took place through digital channels, a growth rate of 5 times compared to January 2020. The research also found that 78% of ADIB’s customers are now digitally active, a growth of 8% as compared to January 2020.
Ihab Ismail, Chief Analytics Officer, ADIB, said: “Our mission is to enable our customers to achieve their financial aspirations by delivering a seamless and convenient banking experience, and we have seen an exponential growth in demand for our digital banking tools, as more customers are looking for that all-in-one banking solution which we provide. We are proud that over 750,000 customers are digitally active, and together with the launch of our Analytics Center of Excellence, we can use big data and AI to drive further value with more ever more tailored solutions and products.”
Other core findings in ACE’s January 2021 report highlights the extent to which ADIB’s customers have adopted to the banks’ digital transformation and concluded these activities online:
- 99% of total money transfers
- 78% of KYC checks
- 62% of customer profile updates
- 46% of new finance sales
ADIB is committed to leading the way in digital transformation efforts to drive further value and ACE is a core part of the journey, especially as it serves to aggregate real-time information across all business units and uses smart analytical models, AI and big data to generate operational insights and recommendations. ADIB will continue to advance projects for the next phase of its digital journey, including expanding its solution and products and rolling out new capabilities on its app.