The Abu Dhabi Islamic Bank (ADIB) has entered a strategic collaboration with Silent Eight to automate its alert screening investigation process and improve its capabilities. The partnership between ADIB and Silent Eight, a regtech company focusing on providing solutions across the compliance workflow via artificial intelligence (AI) and machine learning platform developed to identify and prevent financial crime, aims to enable the former to automate the alert screening investigation process to enhance the accuracy of its compliance operations.

By implementing the platform, ADIB is set to minimise the volume of false positive alerts without human intervention. Moreover, the solution utilises natural language processing and machine learning to mimic human reasoning and decision-making taking into consideration alert data and continuous learning. Through this, ADIB intends to reduce dependence on human investigators, decrease operational costs, and optimise the customer experience. What are ADIB and Silent Eight’s plans? The current move aligns with ADIB’s objective of solidifying its position in the industry and improving its services as an Islamic bank, as it is set to increase operational efficiency and response rate.

As provided by the company, Silent Eight’s solutions plan to be integrated into ADIB’s operations and launched in September 2024. The bank projects substantial advancements in its compliance operations, as well as increased proficiency and accuracy, thus supporting its commitment to financial integrity and development. Furthermore, representatives from Silent Eight highlighted that the collaboration with ADIB intends to assist the bank in strengthening its digital banking solutions by offering accelerated and optimised service for customers. Also, the partnership is set to deliver improved compliance and reporting operations.

Before the current announcement, ADIB launched its ADIB Business Souq, a B2B marketplace developed to assist the development of small and medium-sized enterprises (SMEs) in the UAE. The bank intends to offer its customers and partners a secure digital marketplace, which was created to deliver efficient support to SMEs across the region. .