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Al Hilal Bank Embarks on Digital Transformation

Al Hilal Bank Embarks on Digital Transformation

UAE-based Al Hilal Bank has set out a new road map to transform into a digital-focused retail bank, investing significantly in distinctive and innovative technology to substantially enhance its customer experience. Amr Al Menhali, newly appointed as Al Hilal Bank’s Chief Executive Officer by the Bank’s Board of Directors, will lead this digital transformation.

“Al Hilal Bank has a significant opportunity to thrive as an innovative, digital-focused retail bank that provides our customers with outstanding Shari’ah-compliant services. I thank the Board of Directors for their trust and support, and I look forward to working with the executive team to drive forward the Bank’s transformative new strategy” said Amr Al Menhali. “This investment in digital capabilities places our customers at the centre of our operations and reaffirms Al Hilal Bank’s position as a leader in the market, offering a contemporary Islamic banking experience.”

Al Menhali, a UAE national, has been Head of Islamic Banking at ADCB since 2010. He serves on the board of a number of financial institutions as well as the UAE Banks Federation (UBF), and is an advocate for UAE nationals to pursue careers in the financial services industry. “At Al Hilal Bank, we will continue to build on our strong track record in developing UAE national talent, ensuring that we increase our Emiratisation rate, which now stands at over 50 percent – the highest in the UAE banking industry,” said Al Menhali. “Ensuring that we deploy our talented people in the areas of the business that will drive future growth is fundamental to this strategic transformation.”

Al Hilal Bank, Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) are scheduled to combine on 1 May 2019 to create a powerful banking group. Al Hilal Bank will continue to operate as a separate entity within the ADCB Group, providing high-quality Shari’ah-compliant retail banking products and services under its own brand. As part of its digital transformation, Al Hilal Bank is introducing a set of cutting-edge initiatives that aim to transform its banking service into a truly holistic digital banking experience.

The first milestone in this transformation was the launch of Al Hilal Bank’s new mobile banking application, which offers customers a suite of advanced features, including secure fingerprint and facial recognition technology, as well as a seamless mobile banking experience. Customers can register for the app using their card number, choose to bank in English or Arabic and carry out transactions with convenient features such as the ability to add beneficiaries to their account using just an IBAN number.

New customers will also benefit from Al Hilal Bank’s digital transformation, with a dedicated mobile application that will enable them to open a new account in a few, simple steps. The mobile app, which will be launched soon, is designed to make the process of creating an Al Hilal Bank account easier and more convenient, ensuring an enhanced customer experience from the first stage of the banking relationship.

Simultaneously, the new strategic direction of Al Hilal Bank will ensure greater levels of accessibility and convenience to its customers, offering them fee-free access to an expanded network of over 650 ATMs across the UAE. The Bank’s customers are now able to use the combined ATM network of ADCB, UNB and Al Hilal Bank free of charge for cash withdrawals and balance inquiries.

As Al Hilal Bank proceeds with its digital transformation, the Bank’s shareholder, Abu Dhabi Investment Council, has appointed an experienced new Board, led by Ala’a Eraiqat, Group CEO at ADCB, as Chairman. The Board will focus on driving the next stage of Al Hilal Bank’s growth through a culture of strong risk management and disciplined corporate governance.

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