Abu Dhabi Islamic Bank is boosting its digital capabilities in an attempt to attract more young people to the lender.
The Sharia-compliant bank has teamed up with the German online lender Fidor to build a digital interface, aimed at millennials who no longer want to go inside a bank to open an account or get a loan.
The new digital platform on the ADIB website will also have a social media space where customers can trade financial advice and help the bank create products and services that meet their needs.
“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,” said Tirad Al Mahmoud, the bank’s chief executive.
“The features and services offered by the new offering are based on customer insights gained from intensive research.”
The service, which can be used by customers regardless of age, will be brought online in the next couple of months.
ADIB joins a number of other big banks in bolstering digital banking and aiming the changes at a youthful audience.
Emirates NBD, Dubai’s biggest bank by assets, said in June it would invest Dh500 million in the next three years to improve its digital capabilities.
The Dubai bank said it was also planning to create a separate digital-only bank aimed at young customers at a time when physical branches are losing their appeal with millennials.
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