Meedaf: ADCB unveils new venture to transform banking operations in UAE and GCC
The aim is to transform banking efficiency with AI and blockchain
DUBAI: The Abu Dhabi Commercial Bank (ADCB) has unveiled Meedaf, a transformative venture poised to reshape the landscape of financial services across the UAE and GCC.
Designed as an independent entity within Abu Dhabi Global Market (ADGM), Meedaf aims to enhance operational efficiency, reduce costs, and bolster competitiveness among banks and financial institutions through cutting-edge technology and innovation.
As the financial sector grapples with rapid digital transformation, Meedaf positions itself as a catalyst for change, setting a new standard for service excellence.
Transforming banking efficiency
At the heart of Meedaf’s offering is a suite of advanced solutions tailored to streamline financial operations. With an emphasis on AI-driven automation, Meedaf targets crucial areas such as collections, risk assessment, and regulatory compliance, allowing institutions to operate more effectively.
The integration of blockchain technology serves to enhance security and fraud detection, while predictive analytics optimises financial processing and boosts service efficiency. Additionally, Meedaf’s customer-centric digital solutions, including loyalty programme management, are designed to engage clients meaningfully and elevate overall service delivery.
Ala’a Eraiqat, Group CEO of ADCB, remarked, “Meedaf marks a pivotal milestone in ADCB’s evolution beyond traditional banking, reinforcing our commitment to innovation and transformation. By delivering scalable, innovative solutions for institutions across the GCC, this initiative is a bold statement of our vision for an agile and efficient financial sector. Our objective is to help unleash the industry’s potential to drive significant positive impact across the wider economy.”
Commitment to innovation
Eng. Abdulla Abdul Aziz AlShamsi has been appointed as the Managing Director and CEO of Meedaf, guiding the strategic direction and growth of the venture while continuing his role as ADCB’s Group Chief Business Officer. His leadership is expected to steer Meedaf towards becoming a leading hub for financial innovation in the region.
“I am honoured to lead Meedaf in shaping the future of financial services,” said Eng. AlShamsi. “By leveraging ADCB’s expertise and forming strategic partnerships, we are dedicated to delivering world-class solutions that create tangible value for businesses and communities across the region.”
With two decades of leadership experience in strategic investments and economic development, Eng. AlShamsi brings invaluable expertise to Meedaf. Prior to joining ADCB, he served as Director General of the Abu Dhabi Investment Office (ADIO), where he played a key role in advancing private sector initiatives that stimulated local economic growth.
Abu Dhabi's fintech hub
In an era where digital transformation and AI technologies are reshaping financial services, Meedaf is poised to lead in innovation, operational efficiency, and regulatory excellence throughout the GCC. Beyond improving operational performance, the venture aims to reinforce Abu Dhabi’s status as a regional fintech hub, fostering job creation and skill development in the banking and fintech sectors while driving economic growth across the UAE.