5 November 2020, Singapore — Abu Dhabi Commercial Bank and its technology partner Newgen Software Technologies received the award for Best Digital Transformation Implementation in the Middle East at The Asian Banker Middle East and Africa Regional Awards Virtual Ceremony 2020.
The bank offered instant customer onboarding and account creation
Abu Dhabi Commercial Bank (ADCB) partnered with Newgen Software Technologies and implemented instant paperless onboarding and account creation for retail customers without compromising any regulatory checks for compliance and credit. Through the ADCB Hayyak app, customers were able to open an account quickly and securely and receive their debit cards and cheque books without having to visit a branch or complete any paperwork.Through the successful implementation, the bank has digital footprint for notifications for account entry by integrating various back end processes and improved security through biometrics.
The bank initiated an omnichannel customer journey for retail product offering
With the entire process automated, digital and paperless, done within minutes through an application, the bank was able to provide an integrated customer experience. The entire process is developed as an omnichannel offering and the entire state is managed by the event driven business process management process. Customers can start their journey on the Hayyak app which saves every single data at each stage to prevent data loss. Furthermore, each journey completion takes less than 10 minutes.
The implementation centralised bank operations and reduced manpower needed
The successful implementation of the Hayyak app allowed ADCB to centralise the bank’s key operations through integration of bank-wide rules and policies in an open source. This greatly reduced transaction time from three days to 15 minutes and saved 760 man-hours. The bank also saw 60% of its customers migrating over to the Hayyak app since its launch. Through this implementation, the efficiency and customer service improvements are significant with no intervention from operations staff. It enabled accurate data capture and centralisation of decision rules and policies.
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