Deutsche Bank and Abu Dhabi Commercial Bank PJSC (ADCB) today signed a Memorandum of Understanding to use Deutsche Bank’s Autobahn App Market, the first App-based electronic offering for clients in the financial industry. This will enable ADCB to connect to Deutsche Bank and its broad range of electronic products and services via one common access point.
ADCB the fourth largest bank in the UAE and the third largest bank in Abu Dhabi was incorporated in 1985 and is a diversified full service bank active in all banking services that span corporate, retail and commercial banking as well as in the areas of treasury derivatives, infrastructure finance, private banking and wealth management. ADCB’s franchise is supported by a network of 320 ATMs and over fifty branches in the United Arab Emirates as well as two branches in India and one branch in Jersey.
With 165 Apps, Deutsche Bank’s Autobahn App Market will connect ADCB to electronic transaction banking services via one point of access. In a competitive marketplace that demands innovation, Deutsche Bank’s Autobahn App Market provides direct access to research, analytics, data and pricing tools on a single platform, allowing ADCB to track performance, streamline daily workflows, mitigate risk and increase efficiencies.
Padmanabha Mishra, Head of Financial Institutions at ADCB, said, “At ADCB we are focused on providing the most innovative solutions to the market. Embracing the latest technology and platforms is of critical importance to achieve a competitive edge. With this in mind, we chose to expand our relationship with Deutsche Bank by leveraging its Autobahn App Market to enhance our ability to access more information online. We look forward to continuing to benefit from Deutsche Bank’s market-leading product and service innovation.”
Wolfgang Wagner, CEEMEA Head for Cash Management Financial Institutions, Global Transaction Banking at Deutsche Bank, said, “We are pleased to support Abu Dhabi Commercial Bank in their need for a customised information platform. We are committed to providing innovation and tangible results to our clients in the Middle East and around the world.”