ADIB Ventures, an initiative launched by Abu Dhabi Islamic Bank (ADIB) has signed a strategic partnership with Lean Technologies, the MENA region’s premier fintech infrastructure provider. The announcement was made in coordination with Hub71 at Abu Dhabi Finance Week 2024, where the organisations shared their vision of advancing financial innovation and delivering enhanced banking solutions.
This collaboration will empower ADIB Ventures to leverage Lean Technologies’ cutting-edge platform, which offers tools for programmatic automated payouts, reconciliation, account verification, and stronger financial operations solutions. Through this partnership, ADIB Ventures aims to offer an array of tailored products and services to fintech companies and corporate clients, helping to expand the bank’s digital banking portfolio.
Commenting on the partnership, Fernando Plaza Lopez , Chief Digital Officer at ADIB, said: “Partnering with Lean Technologies marks a significant milestone in ADIB’s journey towards becoming a leader in digital financial services. This collaboration will not only enhance the bank’s capabilities but also provide our clients with the latest fintech solutions to streamline their financial operations and drive growth”.
Plaza added: “By integrating Lean’s platform, ADIB is positioned to offer comprehensive solutions to both existing and new clients, particularly fintechs and corporates seeking seamless cash management and transaction banking services. This aligns perfectly with our strategic vision of fostering innovation and strengthening our position as a digital-first bank”.
Lean Technologies, trusted by over 200 clients and serving more than 500,000 customers across the MENA region, brings its extensive experience and technological expertise to the partnership. With high-profile clients across multiple industries, Lean Technologies has been at the forefront of fintech in the region. The company was part of Hub71 sixth Cohort, is regulated by the ADGM Financial Services Regulatory Authority.
Mehdi Tazi, Chief Operations Office of Lean Technologies, added “With the announcement of Open Finance in the UAE, our partnership with ADIB comes at a pivotal moment. ADIB and Lean share a deep understanding of the challenges large fintechs and corporates face in accessing financial services, and we have been working together to design a suite of solutions that adds value to the customers. We are excited to unveil these solutions to the market in the coming weeks.”
ADIB Ventures and Lean Technologies plan to launch the platform capabilities, paving the way for enhanced financial services, increased client acquisition, and the expansion of digital banking offerings. The UAE’s supportive regulatory environment has further boosted opportunities for collaboration and innovation in the financial sector.
This partnership underscores ADIB Ventures’ commitment to leveraging innovative fintech solutions to enhance customer experience, improve operational efficiency, and drive long-term growth.
About ADIB Ventures:
ADIB Ventures, a new strategic initiative launched earlier this year as part of 2035 vision, is designed to accelerate innovation and collaboration within the global financial technology (fintech) sector. The program aims to strengthen ADIB’s position as a leader in digital transformation and create a robust ecosystem by connecting with fintech players and integrating emerging technologies, such as Generative AI to enhance the banking experience for over 1.4 million customers.
ADIB Ventures seeks to introduce new offerings that cater to the rapidly evolving needs of tech-savvy customers by launching pilot programs and proof-of-concept projects to test and implement cutting-edge technologies that can transform the future of Islamic banking. The initiative further strengthens our vision to be the world’s most innovative Islamic bank, empowering us to drive growth across the region and beyond.
