Abu Dhabi Islamic Bank (ADIB), a top-tier financial services institution, has partnered with Fidor Bank to launch the region’s first ‘community based digital bank’.

The new platform is designed to fit the lifestyle of millennial consumers also known as Generation Y, as well as those looking for a digital offering that matches their banking needs, the company said.

Fidor Bank is Europe’s original digital challenger bank. Founded in 2009, Fidor is the world’s first ‘fintech bank’, pioneering the collaboration between traditional financial services and technology businesses. Fidor Bank centres around an online community, where users can exchange financial advice and also help co-create banking products.

“Our research is clearly telling us that customers are looking in particular for digital banking services that offer a seamless, easy and intuitive user experience. Our proposition will allow users to completely change the way they bank and manage their finances using digital technology to serve all their banking needs.” said Tirad Al Mahmoud, CEO of ADIB.

“The features and services offered by the new offering are based on customer insights gained from intensive research. As we strive to constantly innovate with our offerings, we believe Fidor is an ideal partner to help us introduce this revolutionary solution.” Al Mahmoud added.

Matthias Kroener, CEO of Fidor Bank, commented: “We’re delighted to partner with ADIB to bring the first community based digital bank to the region. Given ADIB’s track record in offering pioneering digital banking services, our partnership makes perfect sense."

The ‘new digital bank’ with its new services, features and online community will be available for existing and new customers to sign up to in the upcoming months, ADIB said. - TradeArabia News Service