With technology evolving at a rapid pace, the future of the corporate banking industry will be driven by those who can best capitalise on the changes.

Today’s banks must be nimble to meet the fast-changing needs of clients and seize the tech-driven opportunities of the digital world.

Over the last decade, technological innovations have enabled new access modes, such as online banking and mobile apps. This has helped consumers and businesses to migrate away from cash and cheques towards electronic payments. In addition, an increased demand for convenience and speed has resulted in a growing use of contactless and fast payments.

Pioneering a new kind of corporate banking

Digital has long been a key enabler of ADCB’s strategy, helping to drive service excellence and enhance efficiency. The bank’s strong financial position provides the foundation for substantial investment into the technology that is generating expansion across the business.

ADCB’s digital solutions ProCash and ProTrade have consistently exhibited strong growth in client adoption, a clear indication of their trust in the bank’s ability to deliver dependable and highly effective solutions for their cash management and trade finance needs.

The bank’s investment in these two flagship platforms demonstrates its ambitious commitment to digital transformation. The ProCash cash management platform offers highly reliable and secure online banking cash management solutions for corporates. It enables companies to initiate, reconcile and manage multiple payment types online, providing an exceptional level of customisation to meet specific client needs.

Launched at the end of 2018, ProTrade is a digital trade finance platform that provides trade finance clients with the freedom to transact online at any time, from anywhere in the world. ProTrade is designed to streamline and reduce trade cycles, automate supply chains, and lower operating costs, making international trade financing quick, easy, and secure.

Investing in innovation

ADCB continued its digital investments in 2022 and into 2023, rolling out a series of new features for ProCash to improve the user experience, with more enhancements coming soon. These included the addition of debit, credit and virtual card facilities that help clients to track their money in real time and provide a seamless proposition that continues to make banking more efficient.

In the trade finance space, ADCB introduced several innovative digital solutions, including a streamlined document handling process for exporters that has revolutionised the way trade export bills are managed, eliminating the need for the physical exchange of original documents. This accelerates the processing of export documents and leads to faster realisation of export proceeds.

ADCB has also introduced FinTrade, a Software as a Service cloud-based client platform designed to equip businesses with advanced tools for optimising their supply chain finance operations. Through this innovative solution, companies can efficiently manage their working capital and streamline their transactions in real time.

Furthermore, ADCB is investing in APIs and MT798 to make it easier for clients to engage digitally with the bank for their documentary trade solutions while using their preferred platforms.

Meanwhile, the introduction of Swift for corporates has simplified treasury and cash management processes. This automation-driven solution not only reduces the risk of errors but also provides global reach, enabling multinational corporations to manage their financial transactions and accounts with enhanced visibility and security.

Building on its growing reputation as a digital innovator, ADCB recently partnered with Dubai’s Department of Economy and Tourism and Norbloc to automate the annual updating of trade licence details for Corporate and Investment Banking clients. The digital process extracts trade licence details for existing clients via the blockchain platform, streamlining the verification process without requiring clients to provide renewed licences.

Digital corporate banking continues to evolve at astonishing speed. Banks that lack the know-how, resources or ambition to leverage the power of digital to transform their relationships with clients will quickly fall behind. But for those banks like ADCB with the experience and ambition to chart an innovative, digitally driven future, it represents a unique opportunity to seize the moment, building new, closer relationships with customers, reducing costs and enhancing revenue growth.

As part of its future transformation plans, ADCB is actively working on pioneering digital innovations that will further enhance client experience. By harnessing cutting-edge digital technology, ADCB aims to ensure that every interaction is seamless and client-centric, setting new standards for excellence in banking.