Latest news with #PaymentsHubPlatform
TECHx
08-02-2025
- Business
- TECHx
ADIB Becomes First Islamic Bank to Migrate to Cloud-Native Architecture News Desk - 08/02/2025 ShareAbu Dhabi Islamic Bank (ADIB), an Islamic financial institution, has achieved a significant milestone by becoming the first Islamic bank globally to migrate to cloud-native architecture using ZERO footprint topology. The bank is also the first in the UAE/GCC to successfully implement Swift's Alliance Cloud platform, enhancing its financial messaging capabilities.Swift's Alliance Cloud solution is a next-generation, cloud-based finance messaging platform that modernizes payment processes. By transitioning to a Software as a Service (SaaS) model, ADIB has achieved faster and more secure payment processing for both retail and corporate clients, streamlining operations with cutting-edge technology.This upgrade reinforces ADIB's operational resilience, minimizing service downtime while enhancing cybersecurity measures. It aligns with the bank's Vision 2035, which focuses on building a future-ready banking institution. By eliminating redundant systems and modernizing its payment infrastructure, ADIB will realize significant cost efficiencies and better meet the evolving demands of its clients.Manoj Bhojwani, Chief Information Officer at ADIB, commented, 'This milestone represents a major step in ADIB's pursuit of operational excellence and digital transformation. Our collaboration with Swift underscores our commitment to providing secure, efficient, and innovative solutions to our customers. It strengthens our position as a leader in shaping the future of Islamic banking.'Swift's Alliance Cloud enables financial institutions to adopt a 'plug and play' model, offering easy integration with a wide range of architectures, channels, and volume requirements while maintaining the highest levels of security, resilience, and reliability.ProgressSoft, a key partner in the migration, has played a crucial role by enabling ADIB to fully migrate its message screening and controls for Swift. Michael Wakileh, CEO of ProgressSoft, stated, 'We are proud to support ADIB and Swift's collaboration using our Payments Hub Platform. This partnership showcases the strength of ProgressSoft's technology in driving operational agility and ensuring seamless service delivery.'Retail customers will benefit from near-instant transaction completion, allowing for quicker access to funds and a smooth payment experience. Corporate clients will enjoy improved efficiency in managing high payment volumes, with reduced settlement times for global operations.Through this strategic move, ADIB continues to enhance its service offerings, reinforcing its commitment to providing secure, efficient, and customer-centric banking solutions.
ADIB Becomes First Islamic Bank to Migrate to Cloud-Native Architecture Abu Dhabi Islamic Bank (ADIB), an Islamic financial institution, has achieved a significant milestone by becoming the first Islamic bank globally to migrate to cloud-native architecture using ZERO footprint topology. The bank is also the first in the UAE/GCC to successfully implement Swift's Alliance Cloud platform, enhancing its financial messaging capabilities. Swift's Alliance Cloud solution is a next-generation, cloud-based finance messaging platform that modernizes payment processes. By transitioning to a Software as a Service (SaaS) model, ADIB has achieved faster and more secure payment processing for both retail and corporate clients, streamlining operations with cutting-edge technology. This upgrade reinforces ADIB's operational resilience, minimizing service downtime while enhancing cybersecurity measures. It aligns with the bank's Vision 2035, which focuses on building a future-ready banking institution. By eliminating redundant systems and modernizing its payment infrastructure, ADIB will realize significant cost efficiencies and better meet the evolving demands of its clients. Manoj Bhojwani, Chief Information Officer at ADIB, commented, 'This milestone represents a major step in ADIB's pursuit of operational excellence and digital transformation. Our collaboration with Swift underscores our commitment to providing secure, efficient, and innovative solutions to our customers. It strengthens our position as a leader in shaping the future of Islamic banking.' Swift's Alliance Cloud enables financial institutions to adopt a 'plug and play' model, offering easy integration with a wide range of architectures, channels, and volume requirements while maintaining the highest levels of security, resilience, and reliability. ProgressSoft, a key partner in the migration, has played a crucial role by enabling ADIB to fully migrate its message screening and controls for Swift. Michael Wakileh, CEO of ProgressSoft, stated, 'We are proud to support ADIB and Swift's collaboration using our Payments Hub Platform. This partnership showcases the strength of ProgressSoft's technology in driving operational agility and ensuring seamless service delivery.' Retail customers will benefit from near-instant transaction completion, allowing for quicker access to funds and a smooth payment experience. Corporate clients will enjoy improved efficiency in managing high payment volumes, with reduced settlement times for global operations. Through this strategic move, ADIB continues to enhance its service offerings, reinforcing its commitment to providing secure, efficient, and customer-centric banking solutions.
Zawya
06-02-2025
- Business
- Zawya
ADIB becomes the first Islamic Bank to adopt Swift's Alliance Cloud platform
UAE, Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank globally to have migrated to cloud-native architecture using ZERO footprint topology and the first bank in the UAE/GCC to successfully implement Swift's Alliance Cloud platform. This collaboration will enable ADIB to further upgrade its financial messaging capabilities and leverage advanced technology to deliver secure, efficient, and scalable services to its retail and corporate customers. Swift's Alliance Cloud solution is a next-generation, cloud-based finance messaging solution designed to modernise payment processes. By transitioning to a Software as a Service (SaaS) model, ADIB has achieved faster and more secure payment processing for retail and corporate clients. This achievement reinforces ADIB's operational resilience by minimising service downtime and bolstering cybersecurity measures. It underscores ADIB's Vision 2035, which emphasises building the bank of the future. By eliminating redundant systems and streamlining payment architecture, the bank will achieve significant cost efficiencies while modernising its infrastructure to meet the evolving needs of its clients. Commenting on the implementation of Swift's Alliance Cloud Platform, Manoj Bhojwani, Chief Information Officer at ADIB, said: 'This milestone represents a significant stride in ADIB's pursuit of operational excellence and digital transformation. Our collaboration with Swift highlights our commitment to staying ahead in a rapidly evolving financial landscape, ensuring our customers benefit from secure, efficient and innovative solutions. This achievement not only strengthens our capabilities but also reaffirms our position as a leader in shaping the future of Islamic banking.' Swift is supporting finncial institutions with the move to zero footprint, enabling 'plug and play' access to its Alliance Cloud solution regardless of architecture, channel or volume requirements, while maintaining the highest levels of security, resilience and reliability for which Swift is known. 'We are proud to support ADIB and Swift's collaboration using our Payments Hub Platform,' said Michael Wakileh, ProgressSoft's Chief Executive Officer. 'With the successful rollout of cloud prerequisites and our Message Depot for message warehousing, we have enabled ADIB to fully migrate its message screening and controls for Swift. This partnership showcases the strength of ProgressSoft's technology in driving operational agility, enhancing competitiveness and ensuring seamless service delivery for ADIB.' Retail customers can utilise near-instant transaction completion, enabling quicker access to funds and a seamless payment experience, while corporate clients benefit from the ability to manage high payment volumes with greater efficiency and reduced settlement times for global operations. With this strategic move, ADIB continues to elevate its service offerings, reinforcing its commitment to providing secure, efficient, and customer-centric banking solutions.
