by Colin Fraser, Head of Wholesale Banking Group, Abu Dhabi Commercial Bank
In an environment of market volatility and change, institutions and corporations of all sizes value stability and reliability, the cornerstones of Abu Dhabi Commercial Bank (ADCB)’s customer proposition. As a result, customers continue to look to the bank to provide continuity, support their liquidity and risk management needs and act as a trusted partner during challenging times. With a clear customer mandate, we are committed to being the bank of choice for institutions and corporations headquartered in the UAE, particularly Abu Dhabi, and foreign entities doing business here.
Innovation to drive customer value
While continuity and reliability are amongst the key attributes to which customers are attracted, they also need ADCB to provide solutions to meet their changing operational, strategic, regulatory and compliance needs. Emerging fintech players have the potential to deliver significant value in these areas in partnership with banks by leveraging new ideas and technology, and porting expertise from other industries. We are proactively engaged both with fintech companies directly, and through our key partner banks, particularly Bank of America Merrill Lynch, but also ING and Santander and UK banks with which we are in discussions to understand emerging opportunities. Some newer technologies, such as blockchain, are creating ripples across the financial sector, but banks and fintech vendors are exploring different angles of opportunity, from fraud prevention through to payments, trade finance and supply chain finance. In addition to our own research, we are working closely with other banks and vendors, both directly and through industry forums, to explore how new technologies can translate into genuine value for customers in solving today’s problems and creating future opportunity.