ADIB Ventures Aims To Drive Innovation Through Collaboration
ADIB Ventures is a part of the UAE-based financial institution’s approach to remain competitive in the banking industry.
In an interview with Inc. Arabia at GITEX Global 2024, Fernando Plaza, chief digital officer at Abu Dhabi Islamic Bank (ADIB), explained how the bank's newest initiative, ADIB Ventures, supports innovation in the fintech sector, while also aligning with its long-term strategy.
Through ADIB Ventures, the bank aims to build a focused ecosystem by partnering with fintech companies and incorporating advanced technologies, including generative artificial intelligence (AI), to improve services for its 1.3 million customers.
“If we can incorporate our partners’ innovations in a way that is fully empowering our promise to our customers, this is the sweet spot for us," Plaza said. "This is what we want to build."
By working with fintech firms, ADIB Ventures plans to develop new offerings to address the changing needs of digitally engaged customers. The program will also include pilot projects and proof-of-concept initiatives to test and apply technologies that can influence the future of Islamic banking.
Plaza underscored the importance of putting the customer first for entrepreneurs aiming to work with ADIB Ventures. “Look at the customer," he advised. "How can you serve the needs of the customer in a way that is different? Are they happy with what we have today? How can we actually make life easier?”
Curious to learn more about ADIB’s innovation journey? Watch Plaza's full interview in the video!
