Eight fintech start-ups from countries including the US, Canada, Singapore, Bahrain and the UK are eyeing for an opportunity to work with Abu Dhabi Islamic Bank (ADIB), particularly to implement their solutions to complement ADIB’s digital product suite.
The solutions pitched cut across several verticals including regtech, payments, fraud risk and gamification as well as tailored Shariah compliant offerings. These were presented at the annual virtual ‘speed meeting’ with the bank in collaboration with DIFC FinTech Hive.
“As we emerge from the COVID-19 pandemic, ADIB recognizes that fintech needs 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,” Talha Khan, the head of innovation at ADIB, said. “Through 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.”
The speed meeting, the fourth of its kind, is part of the Islamic bank’s digital transformation strategy. As one of the largest Shariah banks in the UAE by assets, ADIB has introduced several digital measures including the ADIB Simple Lab – a collaborative workspace for the fintech community as well as a series of digital-driven banking products.