ADIB Ventures: Driving Innovation Through Collaboration

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00:00At Adib, we have just launched our Adib 2035 strategy.

00:14So we acknowledge that in order for us to continue to grow and compete in the market,

00:19we need innovations.

00:21We need to play very strongly on artificial intelligence, on Gen AI.

00:26We know that we actually need to bring new capabilities for our customers.

00:30We know that we need to actually build on data and analytics.

00:33We know that there is a lot of innovations around blockchain, but there is so much going

00:36on that we need to form a program and a vehicle so we can engage with companies which are

00:43participating in this space.

00:45As we grow on Gen AI, as we grow on artificial intelligence, and as we grow on our execution

00:51of our 2035 plan, Adib Ventures is the program that we have set to execute on these capabilities.

00:59So to build in-house ourselves new capabilities, but also to actually go to the market and

01:03see which are the innovations that we can incorporate, and which are the innovations

01:08that we build or we can enable to the market.

01:10Because we acknowledge that on these days, banks are also innovating very fast.

01:15So there is no reason for us where we are very strong in terms of managing our balance

01:20sheets, in terms of our security, in terms of our KYC, in terms of all of the different

01:25things that we do very well as a bank, we can also enable them to the market to actually

01:29continue to grow through other partners and partners.

01:36The key thing that we see is always start with the customer.

01:39Look at the customer.

01:40How can you serve the needs of the customer?

01:44In a way that is different, in a way that is similar, are they happy with what we have today?

01:48How can we actually make their life easier?

01:49In terms of, it can be as simple as helping the manager with their finances.

01:53It's about becoming very smart about, for example, if we have the data of the customer,

01:58we can apply artificial intelligence, GNI innovations around how we predict what will

02:05the customer need in the next few months.

02:07That's the key, right?

02:08Because at the end of the day, the customer is at the heart of everything we do.

02:12So I would definitely encourage them to start from the customer point of view.

02:15How can you improve the life of the customer and then apply technology to that lens?

02:18It's not the only way around.

02:24Our mission statement is to be the world's most innovative Islamic bank.

02:28So on the back of that, we want to focus on Sharia-compliant products and Sharia-compliant

02:34partners.

02:35So these are the type of partners that we want to work with.

02:38We want to become the go-to bank for all of these partners where actually we can build

02:42either products around financing, products around enabling new customers to manage their

02:48finances, around wealth, about small businesses.

02:51So all of these partners which are building fantastic innovations around technology, if

02:56we can incorporate them in a way that is actually fully empowering our promise to our customers,

03:00which is becoming the world's most innovative Islamic bank, and we can do this in a way

03:04that is fully Sharia-compliant, this is the sweet spot for us.

03:07This is what we want to build.

03:09With this, we want to empower our 2035 vision, which is continuously innovate on these capabilities

03:15that will be dramatically changing how we understand banking today.

03:23Digitization is an enablement.

03:25At the end, the promise to be the world's most innovative Islamic bank is a promise

03:29that every employee of ADIB needs to fulfill.

03:32Our business, our control functions, our support functions, all of us, because this is a mission

03:37statement for the full company.

03:38We, as digital, play a role, an enablement role, in the same way that our colleagues

03:42from compliance, our colleagues from risk, and our colleagues from our Sharia board,

03:46all of us.

03:47And as we work very closely with the business, and we work very closely with our technology

03:51colleagues, we are enabling this change.

03:54We can bring new ideas from the market, and we can actually bring new ideas from the business

03:58to the market, right?

03:59This is a two-way approach in which we are an enabler, but we are also actually showcasing

04:03what's available in the market to them.

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