ADIB records 99per cent of retail financial transactions digitally

ADIB records 99per cent of retail financial transactions digitally

Abu Dhabi: Mahmood

Rafique, Editor: Abu Dhabi Islamic Bank (ADIB), a leading financial

institution, has reported a record surge in digital banking with 99% of retail financial

transactions alone were carried out digitally during the first half of the year.

The services

also included payments and fund transfers, as well as 93 per cent of

non-financial services, including personal information updates, were conducted

digitally.

Nearly 60

per cent of ADIB's retail customers have used digital channels, registering

more than two million transactions every month as customers conduct a wide

range of banking activities, such as applying for cards and financing or paying

bills, all from the comfort and convenience of their own home.

Overall, ADIB,

recorded high levels of digital adoption across its retail and corporate banking

services in the first half of 2020.

In addition,

there was a 25 per cent growth in June in the number of customers receiving

instant finance through the app compared to the monthly average of previous

months.  These statistics indicate a

fundamental shift in customer behavior, and an increase in demand for a

convenient and contactless banking experience.

ADIB has

also witnessed similar trends in its corporate banking segment. Over 60% of

ADIB's business customers have actively used ADIB Direct, an innovative banking

platform providing automated trade finance services. With recent enhancements

to the platform, ADIB generated a