First Abu Dhabi Bank (FAB), one of the world’s largest and safest financial institutions, has collaborated with IBM Consulting to support its ongoing digital transformation.
As part of this arrangement, IBM will work to enhance FAB’s digital platforms in a hybrid cloud environment to help deliver a seamless digital experience to the bank’s customers. It aims to provide FAB with deep industry expertise in the areas of banking, hybrid cloud and application modernization to enhance the bank’s ability to faster develop new products and digital services.
Over the past few years, FAB has undergone a transformation designed to put the bank at the forefront of the industry by digitizing 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.
Srinivasan Sampath Acting CTO FAB
“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. 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 digitalization 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. According to the IBM Institute for Business Value (IBV), 71 percent of banks in the UAE have realized substantial or significant value from modernizing business processes and applications.
Mr. Christian Noll, the Managing Partner for IBM Consulting in the Middle East and Africa commented that “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.”
