FAB's Visionary Leap: Core42 and Azure to Promote Banking Operations
Mokshita P.
Artificial Intelligence

FAB's Visionary Leap: Core42 and Azure to Promote Banking Operations

UAE's Largest Bank Collaborates to Utilize Azure Cloud Platform, Sovereign Controls, and AI Solutions, Marking a Step in Regional Financial Era’s Digital Evolution.

To enhance its digital capabilities, First Abu Dhabi Bank, has entered into a collaboration with Core42, a G42 company specialising in AI enablement solutions, to expedite the migration of its data centre and workloads to Microsoft Azure. This initiative aligns with FAB's ongoing digital transformation journey, aiming for the capabilities of Microsoft's Azure cloud platform across various divisions, including Retail, Corporate, SME, Investment Banking, Risk, and Finance.

Suhail Bin Tarraf, Group Chief Operating Officer at First Abu Dhabi Bank, emphasised the commitment to technology and innovation, stating, "This partnership with Core42 is a part of FAB’s digital journey and will enable us to leverage Microsoft’s Azure cloud platform to bolster our operations and deliver an enhanced experience for our customers across the board."

The collaboration further empowers FAB to benefit from Core42's sovereign controls platform built on Microsoft Azure, ensuring compliance with UAE regulatory obligations and achieving data sovereignty. FAB will also gain access to cloud and AI solutions offered by Microsoft Azure, positioning the bank at the forefront of technological advancements in the financial sector.

Working in tandem with Core42 and Microsoft, FAB is actively leading in generative AI, advanced analytics, and other AI scenarios through Centre of Excellence. The aim is to bring value through widespread AI adoption, impacting every function within the organisation.

Kiril Evtimov, Chief Executive Officer at Core42, expressed pride in the collaboration, stating, "By seamlessly integrating Microsoft Azure with Core42's sovereign cloud capabilities and Jais AI large language model, we are empowering First Abu Dhabi Bank with a platform to drive innovation and scale efficiently."

Naim Yazbeck, General Manager, Microsoft UAE, highlighted the significance of this collaboration in transforming the regional financial landscape. "By embracing the latest cloud and AI technologies, FAB is paving the way for a more efficient, innovative, and customer-centric future for the financial services industry," he said. "We are excited to support them in realising this future through the advanced capabilities of Microsoft Azure, to help deliver smarter and engaging customer experiences."

This collaboration builds upon the ongoing partnership between FAB and Microsoft, along with Core42, stating the use of Azure's broad array of analytics and AI solutions to centralise the value of useful data in the bank's operations, ultimately enhancing customer experiences in the region.