UAE: Top bank will not update customers’ details at branches from February 2024

UAE: Top bank will not update customers’ details at branches from February 2024

UAE’s top bank has announced that it will not update customers’ personal details and documents at its branches from next month. In a notice sent out to its customers on Wednesday, First Abu Dhabi (FAB) said with effect from February 7, 2024, its branches will no longer accept requests to update mobile numbers, email IDs, mailing, address and identification documents of the customers. By the end of the third quarter of 2023, FAB had 65 branches/cash offices across the UAE. The UAE banks are increasingly shifting their customer services to digital platforms, allowing them to avail services with a click of a button from the comfort of their homes and offices. According to the Central Bank of the UAE’s (CBUAE) 2022 report, the number of physical bank branches decreased by 22.3 per cent in the past three years, driven by the digitalisation of financial services. In addition, 22 local banks and 1 specialised bank were operating through a total of 573 branches, electronic banking service units and pay offices. FAB achieved record performance in the first nine months of 2023, reporting a net profit of Dh12.4 billion, an increase of 58 per cent year-on-year. In a major announcement, the Abu