The Banking Executive Magazine - January 2025

ADIB ADIB BECOMES THE FIRST ISLAMIC BANK TO ADOPT SWIFT’S ALLIANCE CLOUD PLATFORM Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank globally to have migrated to cloud- native architecture using ZERO foot- print topology and the first bank in the UAE/GCC to successfully imple- ment Swift’s Alliance Cloud platform. This collaboration will enable ADIB to further upgrade its financial mes- saging capabilities and leverage ad- vanced technology to deliver secure, efficient, and scalable services to its retail and corporate customers. Swift’s Alliance Cloud solution is a next-generation, cloud-based fi- nance messaging solution designed to modernise payment processes. By transitioning to a Software as a Serv- ice (SaaS) model, ADIB has achieved faster and more secure payment pro- cessing for retail and corporate clients. This achievement reinforces ADIB's operational resilience by minimising service downtime and bolstering cy- bersecurity measures. It underscores ADIB's Vision 2035, which empha- sises building the bank of the future. By eliminating redundant systems and streamlining payment architec- ture, the bank will achieve significant cost efficiencies while modernising its infrastructure to meet the evolving needs of its clients. Commenting on the implementation of Swift’s Alliance Cloud Platform, Manoj Bhojwani, Chief Information Officer at ADIB, said: “This mile- stone represents a significant stride in ADIB’s pursuit of operational excel- lence and digital transformation. Our collaboration with Swift highlights our commitment to staying ahead in a rapidly evolving financial land- scape, ensuring our customers bene- fit from secure, efficient and innovative solutions. This achieve- ment not only strengthens our capa- bilities but also reaffirms our position as a leader in shaping the future of Is- lamic banking.” Swift is supporting finncial institu- tions with the move to zero footprint, enabling ‘plug and play’ access to its Alliance Cloud solution regardless of architecture, channel or volume re- quirements, while maintaining the highest levels of security, resilience and reliability for which Swift is known. “We are proud to support ADIB and Swift’s collaboration using our Pay- ments Hub Platform,” said Michael Wakileh, ProgressSoft's Chief Execu- tive Officer. “With the successful roll- out of cloud prerequisites and our Message Depot for message ware- housing, we have enabled ADIB to fully migrate its message screening and controls for Swift. This partner- ship showcases the strength of Pro- gressSoft’s technology in driving operational agility, enhancing com- petitiveness and ensuring seamless service delivery for ADIB.” Retail customers can utilise near-in- stant transaction completion, en- abling quicker access to funds and a seamless payment experience, while corporate clients benefit from the ability to manage high payment vol- umes with greater efficiency and re- duced settlement times for global operations. With this strategic move, ADIB continues to elevate its service offerings, reinforcing its commitment to providing secure, efficient, and customer-centric banking solutions. ISSUE 193 JANUARY 2025 the BANKING EXECUTIVE 31