The Arab Bank is the best bank this year in the Middle East. CEO Randa Sadik shares how investments in technology and the next generation of customers have grown.
Global Finance: What are the factors that formed the results of the Arab Bank last year?
Randa Sadik: Arab Bank published a strong performance in 2024, supported by wide growth across geographical areas and business sectors. Our strong results have been supported by a well -implemented expansion in basic bank income with non -reconciliation benefits and revenues that contribute to sustainable growth in net operating profits.
The strategic focus of the Arab Bank continued to expand beyond its local market in payment, with a strong momentum in the GCC high -growth and international markets. Our global network and the main digital transformation of the driving value across the banking companies sectors of consumers, consumers and wealth.
The results emphasize the effectiveness of our long -term strategy, which depends on diversifying the geography and income income to ensure flexibility and capture opportunities across the market.
GF: What are the features of digitization that the Arab Bank has reached?
Sadik: We have developed our original cloud applications and accelerated the development of API. Artificial intelligence agents will also strengthen this process by integrating more value -added services for our customers.
For our business, we have re -engineered our credit creation and approval to enable digital to a party to a party that processes new credit applications faster, starting with the Gulf Cooperation Council countries. We have also renewed our trade financing user interface and added new services.
We continued our focus on strengthening Arabi Next, and our digital application Sme, and among many other things, Digital Onoarding for Small and Medium Company customers in Jordan – launched one of the main regional discrimination – along with the new designer digital loyalty program and the management of SME E2E cards. We directed 91 % of all the transactions of small and medium companies in Jordan through various digital channels.
Finally, the bank launched Omnify, which is the banking services platform as a Baas service. It allows companies to include the Arab Bank applications programming facades in their digital applications and enables the bank to benefit from opportunities for new regulatory frameworks for the banking.
GF: What does the Arab Bank do to reach the next generation of customers?
Sadik: We offer a fully round and round value proposal. We understand that young customers expect more than traditional banking services. They are looking for dedicated digital experiences in line with their dynamic lifestyles and advanced requirements.
Our youth focusing programs start early. Beginners program begins to plant financial awareness in children and develop towards providing banking experiences for adolescents. Shabab focuses on youth and youth, which helps them build a strong financial future through fee -free banking services, exclusive lifestyle benefits, and a comprehensive financial provision. The axis of communication with this main part is the Arabi Mobile app, which provides smooth and comprehensive digital flights to the plane, investments and credit facilities.
Equally important is our dedication to sustainability. Through initiatives in erasing financial illiteracy, constant innovation, and environmental responsibility, we remain related to young generations and form a more comprehensive and sustainable future.
GF: What role did artificial intelligence play in your performance 2024, and what will contribute in 2025?
Sadik: In addition to our digital achievements, the Arab Bank continued its ambition to become the first Amnesty International organization, as it took advantage of our rich data group to automate and allocate exactly -based flows to help our employees in their daily tasks and accelerate their decision -making process, allowing our customers to share the richer, allocated and independent customers.
By 2024, the Arab Bank had more than 20 AI-ML models in production that covers a set of applications, from getting better visions of customers to improve the decision-making process and detect risk. Most of our models have been developed internally under a strong governance framework. However, we have also made a third -party intelligence show, which allows us to take advantage of the scale impact of market data, as is the case with Chatbots service for customer service, electronic threats, and fraud alerts.
For 2025, we will continue to spread these models with the inclusion of AI-Ei use to automate routine tasks, risk management and enhance personal services facing customers. As a basic condition, we provide Arab Bank employees an effective program for learning and developing to take advantage of this new opportunity.
The most physical examples, for example, but not limited to, include providing internal chat groups for the front line employees to access product information and politics faster, support their training needs, and allow the rapid decision -making process
