Abu Dhabi Islamic Bank (ADIB) has entered into a strategic collaboration with DIFC Innovation Hub in order to accelerate FinTech adoption.
The bank signed a strategic partnership agreement during the 2nd edition of the Dubai FinTech Summit to participate as a “Principal Institution Partner” in DIFC Innovation Hub’s 2024 Innovation Scouting program.
The ‘Innovation Scouting’ program is designed to connect corporates and financial industry leaders with some of the most innovative FinTech start-ups in the region to accelerate innovation adoption across verticals.
Mohammad Alblooshi CEO DIFC Innovation Hub
“Innovation is the currency of progress, and within the banking sector, it is the key that unlocks doors to a future where financial services are not just accessible, but transformative. We are thrilled to welcome ADIB as a strategic partner and are positive that this collaboration will provide unprecedented opportunities to the FinTech ecosystem in the region as well as enable ADIB to further advance their commitment to innovation and excellence.”
The collaboration seeks to create Proof-of-Concept (PoC) projects, where the DIFC Innovation Hub will provide support to ADIB in collaborating with the shortlisted FinTechs to ensure successful implementation.
Further, this partnership establishes a dedicated program to help ADIB discover and implement cutting-edge FinTech solutions to accelerate innovation within their organization and external offerings. As part of the program DIFC Innovation Hub will hold highly customized and targeted discovery sessions with key stakeholders from ADIB to identify specific business needs for FinTech innovation.
Fernando Plaza, Chief Digital Officer at ADIB, said that, “This strategic collaboration with DIFC Innovation Hub underscores our commitment to embracing disruptive technologies and fostering a culture of innovation at ADIB.”
“We are confident that this partnership will unlock new growth opportunities and allow us to deliver an enhanced banking experience to our customers. Moreover, it will contribute to the advancement of the UAE’s financial sector, positioning the nation as a leader in FinTech innovation on a global scale,” Plaza further noted.
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