Manama: ABC Labs, Bank ABC’s innovation lab, launched in November 2019, has won the Global Finance World’s Best Financial Innovation Labs award for Bahrain, as part of the magazine’s Innovator Awards for 2021. These awards honour exceptional innovation labs, banks and fintech organisations from across the globe and are viewed as one of the industry’s most credible and popular references for forward-thinking institutions.
“This award is a testament to Bank ABC’s vision of innovation through technology which will improve our customer experience and bring us closer to the Bank of the future. The ABC Labs initiative brings together ‘best-in-breed’ talent from across the organisation and the industry and winning this prestigious award further cements Bank ABC’s position as a leading innovator in the sector. It reaffirms that innovation lies at the heart of delivering exceptional service and products for our customers,” Mr. Sael Al Waary, Deputy Group CEO, Bank ABC, said.
“My heartfelt congratulations to everyone involved, this award is indeed a great achievement for both Bank ABC and Bahrain,” Mr. Al Waary added.
ABC Labs has been recognised for its customer-focused innovations such as the industry first emotionally intelligent and award-winning AI-powered digital banking assistant ‘Fatema’ in addition to the other pioneering initiatives and strategic partnerships it has established to further the Bank’s digital business strategy, while transforming customer experience, redesigning processes and rethinking ways of working.
“Driving innovative digital capabilities that solve customers’ pain-points and provide a more effortless banking experience is one of our key priorities,” said Dr. Yousif Almas, Group Chief Innovation Officer, Bank ABC. “At ABC Labs, we are committed to designing innovative products and services for our customers and developing tools that deliver greater agility, efficiency and security, all of which keep us at the fore of our marketplace and help our customers achieve their goals.”
Bank ABC’s strategic intent is to be MENA’s leading international bank, and its growth is underpinned by a desire to achieve digital leadership. The Bank is committed to developing the ‘bank of the future’, driving innovation and digital banking transformation in the MENA region and at the core of this mission lies its ability to explore and create opportunities through digital and new technologies.
Bank ABC is a leading player in the region’s banking industry and provides innovative wholesale financial products and services that include corporate banking, trade finance, project and structured finance, syndications, treasury products and Islamic banking. It also provides retail banking services through its network of retail banks in Jordan, Egypt, Tunisia and Algeria and through ila bank in Bahrain.
