ADCB Successfully Completes System Enhancement

Press release

Published October 4th, 2017 - 07:23 GMT

Abu Dhabi Commercial Bank

ADCB has successfully completed the migration of its core banking systems and consolidated multiple systems into a single solution on 3^rd October 2017. The application landscape that connects over 130 other systems to the Core Banking suite rendered the implementation extremely complex, requiring over two years of programming, testing and training. The migration to the new system was completed on time.

Jerry Mollenkramer, Group Chief Operating Officer at ADCB stated, “I am grateful to ADCB’s customers for their patience and understanding during this complex transition. ADCB’s new platform gives the bank an unprecedented capability to deliver fast-to-market solutions. We will continue to substantially invest in disruptive digital technologies, all aimed at delivering superior products and services to our valued clients. ADCB is open for business and we are pleased to have resumed our award-winning customer service.”

Alexander Raiff, Chief Information Officer at ADCB said, “The team and our partners were well prepared to deliver the most complex system migration in the history of ADCB. A fast, agile and secure core banking platform provides a solid foundation for the further development of customer experience enhancing solutions. ADCB is grateful to the UAE Central bank for their continuous support and the cooperation extended.”

Background Information

Abu Dhabi Commercial Bank

ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.

ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.

ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.