First Abu Dhabi Bank (FAB) has announced a partnership with IBM Consulting to aid the bank’s ongoing digital transformation journey. IBM Consulting will work with FAB to improve its digital platforms in a hybrid cloud environment in order to provide customers with a more seamless digital experience.IBM’s team of experts will collaborate with FAB to modernize existing applications and improve FAB’s customers’ digital footprint.

The Fintech Megathon 2021 is centered on finding innovative technical solutions to challenges facing the services sector under eight thematic areas, namely asset management/investment advisory, digital assets/cryptocurrencies, crowdfunding, forex (trading of foreign currencies, e-KYC form, SME financing, financial inclusion, and suptech and regtech. the megathon encourages innovators, financial institutions, regulators, and other ecosystem partners across the UAE .

The increase of digital payments across the world shows a clear trend of user’s need for safe and contactless payments methods. This digital payment platform enables users to send and receive money instantly 24/7, make payments through merchant partner apps and websites,

This innovative service is fast and convenient, addressing pain points which required FAB relationship managers and clients need to pass physical documents person-to-person. Some of the documents eligible for FAB eSign include Channel on-boarding documents, Facility Offer Letters, Escrow Agreements etc.

The new payment solution will enable its users to pay for deliveries on arrival, order goods and services online, transfer and receive money instantly, and even share cash gifts with family and friends, all via smartphone.