Abu Dhabi, 1st February 2018 - Fidor is thrilled to announce the availability of moneysmart.ae, Middle East's first digital community for personal finance, where people can exchange information and advice with peers and experts. The concept launched by Abu Dhabi Islamic Bank (ADIB), a leading financial institution established in the UAE, has been tailored to engage with millennials through the media they use the most: mobile, web and social media. Fidor signed a partnership agreement with ADIB whereby it provides fidorOS, Fidor's digital engagement platform, while sharing its expertise in running and growing a digital community bringing valuable financial information and benefits to consumers.
ADIB made this announcement on 1st February through its website explaining the concept in more details which can be read below:
The moneysmart.ae community is open to anyone, and is designed to be highly interactive. It will carry articles, blogs, tips and comments from users, who can receive cashable reward points for their input. Independent experts will be on hand to provide their knowledge and objective advice.
ADIB is launching the community in partnership with Germany's Fidor Bank, which has launched similar thriving communities in Europe.
"moneysmart brings openness to the world of personal finance and is in line with ADIB's objective of giving guidance so that people can make better financial decisions," said Philip King, head of retail banking at Abu Dhabi Islamic Bank at ADIB. "We are providing people a platform to talk about financial issues, exchange advice, and create solutions. Being digital, moneysmart is accessible by anyone, anywhere. It will help people practically, and should make them feel engaged with many aspects of modern living that are tied to personal finance, from smart tips for saving when travelling to big life decisions, such as buying a house versus renting, education, starting a new business, saving for the future or managing debt smartly ."
The moneysmart community is being launched in response to growing demand, especially from "millennials", aged between 17 and 35, for a new, dialogue-based approach to personal finance.
Members of the community will also have access to exclusive deals and discounts from businesses around the UAE.
A recent study by Visa showed that millennials in Saudi Arabia and the United Arab Emirates are actively online between 4.5 and 6.5 hours a day, and have fully embraced online payments. Some 76 percent of millennials in the UAE shop online, while approximately half pay their bills online.
"Since millennials spend much of their time on digital platforms and are influenced by their peers, we want to offer a trusted platform to help make well informed decisions," said Petr Klimes, Head of Marketing at ADIB. "This community is about personal finance matters, but because much of what we do has a relation to money, it will be a forum to discuss many aspects of life. This will also be a place for people to crowdsource ideas that will inspire ADIB to develop financial solutions that suit everyone."
ADIB has seen rapid growth in the use of digital channels by its customers, with almost 2 million mobile transactions initiated via the ADIB mobile banking app. As part of its digital innovation strategy, the bank has also recently revamped its internet and mobile banking platforms to enable customers to conduct their online banking in a simpler and more intuitive manner across all devices. This year, ADIB launched its new generation of digital branch called 'ADIB Express', providing customers with access to an array of digital services within the branch environment.
Visit www.moneysmart.ae to join the community.