Abu Dhabi Islamic Bank (ADIB) is reporting record high levels of digital adoption across its retail and corporate banking services in the first half of 2020.

Nearly 60% of ADIB’s retail customers have used digital channels, registering more than 2 million transactions every month.

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Moreover, customers are conducting a wide range of banking activities, such as applying for cards and financing or paying bills via digital channels.

In the first half of the year, 99% of retail financial transactions, including payments and fund transfers, as well as 93% of non-financial services, including personal information updates, were conducted digitally.

In addition, the bank reports 25% growth in June for customers receiving instant finance through its app compared to the monthly average in previous months. The banks says that the digital statistics indicate a fundamental shift in customer behaviour.

ADIB Direct growth

ADIB reports similar digital growth within its corporate banking segment. Over 60% of ADIB’s business customers are using ADIB Direct, an innovative banking platform providing automated trade finance services. In particular, ADIB reports a 65% growth in digital payments, and a 28% increase in new users.

Philip King, Global Head of Retail banking at ADIB, says: “Digital banking is a central pillar of ADIB’s growth strategy. ADIB’s investment into its digital transformation strategy has yielded substantial benefits including strong customer and transactional growth.

“We are determined to build on this momentum by further enhancing our digital banking proposition, ensuring that customers have full access to ADIB’s comprehensive suite of banking services through our mobile app and online platforms.

Paradigm shift in digital banking

“Recent unprecedented challenges have significantly accelerated the demand for banking channels that offer convenient, seamless and uninterrupted banking services.

“As a leading regional bank, ADIB is adapting to evolving customer needs while taking a long-term view that we are undergoing a paradigm shift in digital banking that will drive the sector’s growth in years to come.”

In June, ADIB introduced a digital booking service enabling customers to schedule their branch visits ahead of time through its online banking platform and mobile banking app. In addition, customers can now virtually apply for personal finance, covered card or update their personal information such as their Emirates ID, Passport and contact details without having to visit the branch.