We’d like to congratulate the digital banking team at ADIB (Abu Dhabi Islamic Bank) for enhancing their international payments capability in both their mobile app and internet banking services.
Their LinkedIn announcement a little while ago caught our attention: It highlighted that the team have added a new feature – discount promotional codes – into their international transfer capability.
We think this is a good, iterative innovation, enabling the bank to offer targeted discounts for specific payment corridors as necessary. For example, we can imagine the bank introducing a particularly good rate to India on occasion of the Indian National Day or similar.
International Payments features are absolutely critical in today’s digital servicing menu, but it’s not often that the banks think beyond the basic and extend the facility to enable them to easily implement price changes. It’s usually all or nothing!
So we say to the ADIB team: Well done!
As the news announcement on the bank’s website notes, this feature launch comes as ADIB reports a 20% increase in the amount of international payments being made through its digital channels.
Here’s one interesting point from the news article:
Approximately 95% of the bank’s remittances occur through digital channels, with the majority of those transfers directed to Americas, Europe, Middle East, and Asia. Additionally, remittances to India are processed instantly or within the same day at the latest, further enhancing the convenience and efficiency for customers.
We’re not surprised that almost every customer chooses to use digital!
Congratulations on the award ADIB!
Assigned by Sebastien Parker
Senior Research Analyst
Global Banking Monitor
12th September 2023
Notes: Read about our Award methodology here.