ADIB launches new finance service

Business Bureau, Gulf Today

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched a new “Express Finance” service, through its mobile app providing qualifying customers with instant access to personal. Created in the bank’s Digital Lab, Express Finance, which enables approved customers to receive funds in as little as 30 minutes, is the latest innovative product to be unveiled as part of the bank’s digital transformation strategy.

Pre-approved ADIB customers seeking personal finance can now complete all application steps on their smartphone via ADIB’s state of the art mobile app and receive their funds the same day without the need to visit any of our branches or to manually sign on any document. While the process for customers is quick, easy and secure, the risk methodology applied by the bank is still rigorous to ensure customers are getting a finance facility within their means.

Philip King, Global Head of Retail Banking at ADIB, said: “A core focus for ADIB is to implement smart digital technologies which can make our customers’ lives easier. Available through the ADIB mobile app, Express Finance offers a quick and convenient channel for pre-approved customers to access funding and support their financial needs. The whole process can now be completed seamlessly on a smartphone with ADIB’s highly-qualified team providing due diligence behind the scenes to ensure the bank continues to provide finances in a responsible and secure manner. This is the latest customer-focused solution developed in ADIB’s Digital Lab, with a series of further announcements planned for the second half of the year.”

With ADIB’s Express Finance service, the latest pioneering output from bank’s Digital Lab, pre-qualified UAE Nationals can receive financing of up to Dhs250,000 while expats can obtain up to Dhs100,000.