Abu Dhabi Islamic Bank adopts Swift’s Alliance Cloud platform for enhanced payment processing
Abu Dhabi Islamic Bank (ADIB) has become the first bank in the Gulf Cooperation Council (GCC) to adopt Swift’s Alliance Cloud platform, aiming to upgrade its payment infrastructure.
ADIB to deploy Swift’s Alliance Cloud platform
Swift’s cloud-based platform, offered as Software-as-a-Service (SaaS), enables institutions to exchange financial messages and API calls with over 11,500 entities worldwide.
Through the collaboration, ADIB says it aims to provide improved services for its retail and corporate customers. Retail customers will benefit from “near-instant” transaction processing, while corporate clients will experience “greater efficiency” when managing high payment volumes and “reduced settlement times for global operations”.
Furthermore, ADIB states that the strategic partnership will strengthen its “operational resilience by minimising service downtime and bolstering cybersecurity measures”.
The move builds on ADIB’s recent digital initiatives, including a 2021 venture to expand its payment services using FIS’ Open Payment Framework (OPF), and a 2024 partnership with Jordan-based ProgressSoft to implement its payments hub platform, PS-PayHub, for upgraded cross-border remittance processing.
ProgressSoft’s CEO, Michael Wakileh, says the firm is supporting the delivery of Swift’s solution: “With the successful rollout of cloud prerequisites and our Message Depot for message warehousing, we have enabled ADIB to fully migrate its message screening and controls for Swift.”
