Dubai Islamic Bank forges alliance HCLTech to integrate AI

Dubai Islamic Bank (DIB) has joined forces with global technology firm HCLTech to incorporate AI into its banking services.

This partnership is aimed at enhancing the bank's operational capabilities through the “responsible” and scalable application of AI.

HCLTech Middle East country head Vineet Shukla said: “By leveraging HCLTech’s full-stack AI portfolio and deep domain expertise, we look forward to collaborating with DIB to unlock innovation, enhance operational agility and deliver differentiated experiences for customers.”

With the partnership in place, DIB will have access to AI advisory services and the expertise of HCLTech's global alliances with various technology partners.

The objective is to utilise AI to refine personalised customer interactions, streamline decision-making, and fortify the bank's frameworks for risk management and regulatory compliance.

DIB chief operating officer Obaid Al Shamsi said: “At DIB, innovation has always been anchored in responsibility and purpose. Our partnership with HCLTech marks a pivotal step forward in realising our vision of an AI-driven future that enhances value for our customers, empowers our people, and strengthens our governance frameworks.

Al Shamsi added: “We remain committed to leading the evolution of ethical finance by embracing advanced technologies that combine intelligence with integrity. This collaboration reflects our belief that AI, when responsibly applied, has the power to transform banking into a more transparent, inclusive, and future-ready ecosystem.”

DIB is listed on the Dubai Financial Market and was founded in 1975.

It manages assets surpassing $100bn and employs a workforce of over 10,000 across nearly 450 branches.

With a customer base of over fivemillion, DIB provides a diverse range of Shariah-compliant banking products and services to individuals, businesses, and institutions.

In 2023, DIB chose HPE GreenLake to enhance customer experience and modernise core Banking platform.

"Dubai Islamic Bank forges alliance HCLTech to integrate AI " was originally created and published by Retail Banker International, a GlobalData owned brand.

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