The Banking Executive Magazine - June 2022 Issue

Abu Dhabi Islamic Bank (Adib), a leading financial institution, has signed an exclusive deal with Visa to further grow digital payments in the UAE, offering innovative and cus- tomer-centric solutions to Adib card- holders. As part of the partnership agreement, Adib will begin aligning all of its cov- ered card and debit card portfolios to the Visa network, where Visa has se- cured exclusivity over Adib’s entire card portfolio including premium products such as Visa Infinite Privi- lege, Visa Infinite and Visa Signature. For nearly 20 years, Adib and Visa have worked together to provide covered and debit cards to con- sumers and businesses of all sizes. Adib was one of the first banks to in- troduce the UAE’s first biometric au- thentication solution for e-commerce transactions with Visa. Innovative experience This agreement aims to grow digital payments in the UAE offering inno- vative experiences and products that deliver value to the bank’s diverse customer segments. Speaking on the partnership, Mo- hamed Abdelbary, Adib Group CFO said: “We are excited to build on our partnership with Visa as we continue to deliver seamless services and su- perior user experience to our cus- tomers. Deepening our partnership with Visa will speed the delivery of solutions for our individual and busi- ness banking customers and will en- able us to create payment offerings that are unmatched in value and scale, enhancing our customers’ lives. Enhancing our digital capabili- ties and secure payment is an in- creasing area of focus for us as we are constantly working towards de- veloping advanced solutions that en- able our customers to make payments digitally, in a safe and se- cure manner.” RISK AND DATA SOLUTIONS The renewed partnership will see both entities continuing to work to- gether to drive the growth of digital payments through data-led solutions, deliver differentiated products in the market using innovative platforms, deepen customer engagement with experiential offerings through Visa’s sponsorship assets, and drive opera- tional efficiencies and cost reduction through Visa’s risk and data solu- tions. Dr Saeeda Jaffar, Senior Vice Presi- dent and Group Country Manager for GCC region, Visa, said: “Adib has been a longstanding partner for Visa and we are delighted to sign this ex- clusive partnership agreement. Over the years, we have worked together with Adib to develop exclusive prod- ucts and programmes that deliver seamless, secure, and rewarding pay- ment experiences to Adib cardhold- ers. As we renew our partnership, we remain committed to growing digital payments, bringing more innovative products to market, and delivering customer-centric solutions to benefit cardholders.” the BANKING EXECUTIVE 18 ISSUE 162 JUNE 2022 Abu Dhabi Islamic Bank and Visa SIGN EXCLUSIVE PARTNERSHIP DEAL