UAE Banks Lead the Charge in Smart Banking to Power Future Economy
The UAE Banks Federation (UBF) has reaffirmed its commitment to advancing smart banking services as a cornerstone of the nation's future economic vision—marked by resilience, financial inclusion, and sustainability.
Speaking at the 14th AIM Investment Summit in Abu Dhabi, UBF Director-General Jamal Saleh highlighted the sector's proactive embrace of advanced technologies under the supervision of the Central Bank of the UAE. This effort, he noted, aims to position the UAE as a global financial and logistics hub and accelerate the country's digital economy agenda.
Held from 7 to 9 April 2025, the AIM Summit gathered global leaders, with over 20,000 participants from 180 countries, under the theme: 'The New Wave of a Globalised Investment Landscape.'
In his keynote at the 'Future of Finance' session, Saleh stressed the vital role of digital transformation, smart services, and fintech in shaping an inclusive, innovation-driven financial system. He pointed to initiatives such as the Central Bank's Digital Transformation Programme and robust cybersecurity frameworks as key enablers of progress.
Today, more than 95% of transactions at major UAE banks are conducted digitally, with over 90% of services accessible via smartphones—making the UAE a global frontrunner in digital banking.
Saleh also emphasised the importance of investing in talent, raising cybersecurity awareness, and aligning smart banking efforts with ESG standards. He noted that technologies like AI, blockchain, and open APIs are transforming financial services, enabling customised solutions and enhancing regulatory compliance.
The UAE, he concluded, is setting new benchmarks in smart finance by fostering collaboration between banks, fintechs, and regulators—paving the way for a more inclusive, secure, and future-ready economy.
News Source: Emirates News Agency
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