Bloomberg/Christopher Pikeby Kudakwashe Muzoriwa
UAE’S Abu Dhabi Islamic Bank (ADIB), has launched Smartbanking, a new digital banking proposition targeting millennials, which allows new customers to open an account, receive their debit cards and cheque books without having to visit a branch or complete any paperwork.
ADIB stated that Smartbanking features digital onboarding and a range of innovative products delivered through a dedicated mobile banking app and intuitive online banking platform.
Philip King, the Global Head of Retail Banking at ADIB, said, “The entire proposition was designed with millennial customers in mind, as our research shows that this segment’s expectations for banking services are shaped by their lifestyle and day-to-day mobile applications.”
Smartbanking allows pre-approved customers to apply for personal finance through the Express finance feature on the application and can customise their financing package as well as design a bespoke repayment programme based on their particular needs.
Additionally, the digital banking proposal allows users to also ‘text’ payments to friends in their contact list simply by selecting a contact number or a moneysmart community nickname for instant transfers.
Recently, the bank launched a new service ‘Express Finance’ which provides qualifying customers with instant access to personal finance within 30 minutes and a simple way to apply for personal finance online.