ADIB partners with Fidor to bring new generation of digital banking to the region

Abu Dhabi, 04 October 2016: Abu Dhabi Islamic Bank (ADIB), a top-tier financial services institution, has partnered with Fidor Bank to launch the region’s first ‘community based digital bank’. The new platform is designed to fit the lifestyle of millennial consumers also known as Generation Y, as well as those looking for a digital offering that matches their banking needs.

Fidor Bank is Europe’s original digital challenger bank. Founded in 2009, Fidor is the world’s first ‘fintech bank’, pioneering the collaboration between traditional financial services and technology businesses. Fidor Bank centres around an online community, where users can exchange financial advice and also help co-create banking products.

Our research is clearly telling us that customers are looking in particular for digital banking services that offer a seamless, easy and intuitive user experience. Our proposition will allow users to completely change the way they bank and manage their finances using digital technology to serve all their banking needs.” said Tirad Al Mahmoud, CEO of ADIB.

 “The features and services offered by the new offering are based on customer insights gained from intensive research. As we strive to constantly innovate with our offerings, we believe Fidor is an ideal partner to help us introduce this revolutionary solution.” Al Mahmoud added.

Matthias Kroener, CEO of Fidor Bank commented: “We’re delighted to partner with ADIB to bring the first community based digital bank to the region. Given ADIB’s track record in offering pioneering digital banking services, our partnership makes perfect sense.

The ‘new digital bank’ with its new services, features and online community will be available for existing and new customers to sign up to in the upcoming months.

- Ends –

 

About ADIB

ADIB is a leading bank in the UAE with more than AED 120 billion in assets. Its 931,352 customers benefit from the third largest distribution network in the UAE with 88 branches and more than 770 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).  

In the UAE, the Bank has more than 2,300 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratisation ratios with more than 43 percent of the bank’s workforce being UAE Nationals.

ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar.

Named “Best Bank in the UAE” by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.

For media information, please visit www.adib.ae or contact:

 

ADIB                                                                                                                    Brunswick Group

Radwa Shehab                                                                                                 Dominic Whiting

Senior Corporate Communication Manager                                          Mouaffak Haijar

Direct: +971 2 6910169                                                                                Direct: +971 2 234 4600

 

 

 

About Fidor Bank AG

Fidor Bank AG (http://www.fidor.de) is an internet-based direct bank licensed in Germany. Many private and corporate clients looking for fast, digital banking processes – from opening an account to everyday transactions – use the Fidor Smart current account with its classical and innovative finance apps as their main bank account. Key banking processes can be carried out in 60 seconds.

In addition to consumer banking, Fidor Bank also offers B2B services such as the digital no-stack banking solutions. Fidor Bank AG was recently selected as a "Global Growth Company" by the World Economic Forum (WEF) for its innovative technology and received the "Celent Model Bank of the Year Award 2015".

About Fidor AG

Founded in 2015, Fidor (AG) provides existing financial, retail and telecoms institutions and startup banks the chance to bring digital technology to the heart of their businesses. Fidor is at the forefront of digital innovation and financial technology, providing tailored, purpose-built products and services that enable its clients to offer a customer-focused digital experience. Using Fidor’s technology, you can deliver a complete digital banking and community  experience on mobile and web devices. Once implemented, Fidor offers you continuous support and counsel, with 24 hour advice. Fidor AG is headquartered in Munich, with offices in Dubai and New York.

Fidor (AG) is a subsidiary of Fidor Bank (AG), headquartered in Munich, Germany. Fidor was awarded as the Celent Model Bank Of The Year in 2015 and received the award for The World Economic Forum’s Global Growth Company in 2014.

Fidor Press Contact

 

Nick Riegger | Sandstrasse 33 | 80335 Munich | Germany

Tel.: +49 89 189 085 157 | Fax: +49 89 189 085 199 | press@fidor.com

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