UAE’s First Abu Dhabi Bank (FAB) and IBM Consulting collaborate to support digital banking transformation by enhancing the delivery of all the customer’s digital experiences in a hybrid cloud environment.
IBM Consulting will provide FAB with deep industry expertise in the areas of banking, hybrid cloud and application modernisation to enhance the bank’s ability to faster develop new products and digital services.
FAB has been transforming to digitise its retail banking products and services for a few years, with the bank now rolling out a wide range of new digital banking offerings to meet customers’ digital needs.
Srinivasan Sampath, acting group chief technology officer – First Abu Dhabi Bank said: “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.”
Christian Noll, the managing partner for IBM Consulting in the Middle East and Africa commented: “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.”
According to the IBM Institute for Business Value, 71 per cent of banks in the UAE have realised substantial or significant value from modernising business processes and applications.
In the light of recent events, the digitalization of the UAE’s financial services sector has tremendously transformed during the pandemic with the increasing consumer dependency on digital banking services through mobile and laptop apps.
Thus, banks have started to modernise and transform their banking services into digital means through the creation of cloud development environments that suit the ever-evolving customer trends and expectations.
About Author
