Operational Review | Consumer Banking
Raising the bar for professionalism in the industry
In a challenging operating environment characterised by customer deleveraging, more stringent regulations, and intense price competition that shrank the UAE’s consumer banking revenue pool, Consumer Banking Group posted a healthy financial performance.
Continuation of the customer-centric philosophy was evident in the substantial investments in refining key customer interaction points and the development of performance and operational standards – popularly known as the ‘Now to Wow’ project. Activities were redesigned to deliver an improved customer experience and drive both competitive advantage and sustainability. The customer on-boarding process was also redesigned, resulting in simpler documentation and significant improvement in turnaround times. The project also enabled quicker and more efficient welcome kit delivery to customers, with the account opening timeline from customer signature to welcome kit delivery reduced by 40%.
The pioneering free banking services introduced a year earlier were also maintained and refined. Further innovations include the launch of Mobi – a world-first payment mechanism which is cash-less, card-less, and even phone-less – and the implementation of a new credit risk policy based on customer segments.
The launch of mobile internet banking for iPhone in the final quarter of 2012 resulted in 12,000 downloads within a month. Services range from account/credit card enquiry to bill payments and money transfers. Enhanced features and functionality of the internet banking platform have also added ease and convenience for customers.
The addition of three new branches and 30 ATMs strengthened the distribution channel and contributed to 38% growth in Consumer Banking customer acquisition, with Islamic Banking responsible for a significant proportion of the growth.
ADCB took over branch management of the offshore bank arrangement with AIB Jersey, expanding the value proposition by introducing investment custody services and generally enhancing the service offering.
Deployment of a state-of-the-art loan management system catering to multiple lines of businesses (Mortgage, Auto, Smart, Personal and SME loans) now offers enhanced flexibility, better risk management, and reduced time to market for new products and services. Ongoing capability enhancements to Itqan (the customer relationship management system) resulted in greater personalisation and efficient campaign management.
ADCB scored an overall first-time pass rate of 90%, compared to a global average of 61%, in the Chartered Institute of Securities and Investments (CISI, UK) International Introduction to Securities and Investments (IISI) certification. A total of 121 wealth professionals were awarded the IISI certification with 19 achieving merit status. This initiative raises the bar for professionalism in the industry, and is a continuing testament to ADCB’s position as an industry leader – providing wealth management services that are delivered by a team of highly qualified professionals.
Continuation of the customer-centric philosophy was evident in the substantial investments in refining key customer interaction points and the development of performance and operational standards – popularly known as the ‘Now to Wow’ project.
The launch of mobile internet banking for iPhone in the final quarter of 2012 resulted in 12,000 downloads within
a month.
ADCB scored an overall
first-time pass rate of 90%, compared to a global average of 61%, in the Chartered Institute of Securities and Investments (CISI, UK) International Introduction to Securities and Investments (IISI) certification.
