Abu Dhabi Islamic Bank (ADIB) has unveiled a strategic partnership with the DIFC Innovation Hub to boost the uptake of FinTech. This initiative aims to link major corporations and financial sector leaders with the region's most pioneering FinTech startups, fostering innovation across various sectors. The partnership focuses on developing proof-of-concept (PoC) projects, with the DIFC Innovation Hub supporting ADIB in working with selected FinTechs to ensure successful execution. This collaboration sets up a specialized program to assist ADIB in identifying and deploying advanced FinTech solutions to expedite innovation both internally and in their external services. As part of the program, the DIFC Innovation Hub will conduct highly tailored discovery sessions with ADIB's key stakeholders to pinpoint specific needs for FinTech innovation. Utilizing its extensive network, the DIFC Innovation Hub will also identify promising FinTech startups offering solutions that meet these critical needs. After a thorough assessment, ADIB will be introduced to the shortlisted FinTechs to develop POCs for multiple use cases.
Fernando Plaza, the chief digital officer at ADIB, stated: “This strategic partnership with the DIFC Innovation Hub highlights our dedication to adopting disruptive technologies and nurturing an innovative culture at ADIB. We believe this alliance will open up new avenues for growth and enable us to offer an improved banking experience to our clients. Additionally, it will aid in the development of the UAE’s financial sector, positioning the country as a global frontrunner in FinTech innovation.” Mohammad Alblooshi, the CEO of DIFC Innovation Hub, commented: “Innovation is the currency of progress, and in the banking sector, it is the key to a future where financial services are not only accessible but transformative. We are excited to have ADIB as a strategic partner, and we are confident that this collaboration will offer unparalleled opportunities to the regional FinTech ecosystem and help ADIB further their commitment to innovation and excellence.”
