By: 5 April 2024

The bank is eyeing Microsoft’s Azure AI services to build and operate an AI Innovation Hub

First Abu Dhabi Bank partners with Microsoft to utilise AI

First Abu Dhabi Bank (FAB) has announced a partnership with technology giants Microsoft to leverage their AI products in its operations. The bank aims to further integrating Azure AI’s technology into its product suite and back-end operations.

The move is no surprise, with many banks moving towards utilising AI in their daily operations.

Microsoft has previously engaged in a similar partnership with CaixaBank in Spain. The partnership proved central to the development of its AI Innovation Lab prior to joining its GenAI Task Force in December last year.

With a particular focus on leveraging Azure AI’s generative capabilities, FAB cites Banking-as-a-Service (BaaS) and Risk-as-a-Service (RaaS) as two potential areas of collaboration. The firm is also looking at how the technology could automate processes across its lending, payment and digital operations across its various functions.

FAB is currently migrating its data centre and workload to Microsoft Azure through digital transformation provider Core42, which operates under its “long-standing” partner, Emirati tech group G42.

Suhail Bin Tarraf, group chief operating officer at First Abu Dhabi Bank, said: “We continue to invest in technology and innovation as the group seeks to deliver value to our customers who are at the heart of everything that we do. This partnership with Core42 is a key part of FAB’s digital transformation journey and will enable us to leverage Microsoft’s Azure cloud platform to bolster our operations and deliver an enhanced experience for our customers across the board.”

Naim Yazbeck, general manager, Microsoft UAE, said: “By embracing the latest cutting-edge cloud and AI technologies, FAB is paving the way for a more efficient, innovative, and customer-centric future for the financial services industry. We are excited to support them in realising this future through the advanced capabilities of Microsoft Azure, to help deliver smarter and engaging customer experiences.”

Kiril Evtimov, chief executive officer at Core42, stated: “By seamlessly integrating Microsoft Azure with Core42’s sovereign cloud capabilities and Jais AI large language model, we are empowering First Abu Dhabi Bank with a platform to drive rapid innovation and scale efficiently. As Core42, we are honored to be a partner in this collaboration and serve as an enabler for FAB in their pursuit to be on the forefront of technological advancements and delivering outstanding service to their customers.”

Image: Microsoft

Robert Welbourn
Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.