Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Abu Dhabi Global Market awards CAT 1 Bank status to the Worlds' first licensed Digital Trade Bank
 

Regulated by the Financial Services Regulatory Authority of ADGM, Anglo-Gulf Trade Bank is poised to bring transformative, disruptive Banking-as-a-Service (BaaS) solutions to the world from its headquarters in Abu Dhabi, United Arab Emirates

Abu Dhabi, UAE, 11 September 2019: Anglo-Gulf Trade Bank (AGTB), a global pioneer in digital transaction banking, has received a full digital banking license and Category 1 status from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). 

This latest chapter in AGTB’s digitally transformative roadmap heralds a landmark occasion for the Abu Dhabi-headquartered organisation, especially as it is now ADGM’s first fully licensed digital bank. The awarding of the license is an important step towards AGTB delivering simplified, client-centric, inclusive trade banking and transaction banking services.

Additionally, AGTB is working closely with ADGM’s Registration Authority (ADGM RA) to enable seamless corporate account opening for ADGM entities by allowing the permissioned exchange of Know Your Customer (KYC) information from ADGMRA to AGTB. This will significantly accelerate and streamline the account opening process for ADGM entities.

Thomas Hirschi, Senior Executive Director and Head of Banking & Insurance, Financial Services Regulatory Authority, Abu Dhabi Global Market, said, ADGM is pleased to award a full digital banking license to Anglo-Gulf Trade Bank. ADGM is committed to providing an inclusive, well-regulated and market-oriented platform that empowers the banking and financial community and financial innovators to flourish.” 

Daniel Gould, Deputy CEO of Anglo-Gulf Trade Bank, added: “The UAE is globally renowned as a digitally-centric hub that thrives off nurturing innovation and new-age thinking for tomorrow’s social and economic betterment.

“As such, the innovation-friendly environment of Abu Dhabi Global Market has offered AGTB a robust foundation for revolutionising the digital finance matrix – first in the UAE, followed by a broader international footprint. This will empower us to bring simple, client-first financial inclusivity and enables us to bolster the UAE capital in becoming a truly world-leading, award-winning financial centre, offering transactional banking services to corporates across the globe.”

AGTB endeavours to become the world’s pre-eminent digital transaction services and trade solutions bank – focusing not only on delivering fundamentally re-imagined, digital-first trade finance solutions to corporates in the MENA region and the world, but also leveraging its unique mix of bank and FinTech DNA to provide Banking as a Service (BaaS) solutions to FinTechs  at ADGM. This will empower AGTB to strive for and achieve greater financial inclusivity for oft-underserved client segments.

 


Posted by : Dubai PR Network Editorial Team
Viewed 5319 times
PR Category : Banking & Investments
Posted on : Wednesday, September 11, 2019  3:15:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Zurich launches global contest to spot promising startups fr...
Next Story : Beema Launches UAE's First Pay-per-kilometer Motor Insurance
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Foreo Set to Break the Beauty Stratosphere According to Experts [6978-Views]
Mother's Day Gift Guide 2020 [6625-Views]
Dina Akesbi joins Clio Beauty on the Professional Beauty GCC Mainstage on 18th Feb! [5453-Views]
St Valentine's Day' [5405-Views]
6 Trends That Will Dominate Beauty in 2020 According to Foreo [5374-Views]
Korea's Number One Beauty Brand Innisfree All Set to Celebrate the Grand Opening at the Du... [4996-Views]
Jaguar Land Rover on Tour Sheikh Hamdan's Falcons Dominate Hurr Category in Fakhr Al Ajyal... [4898-Views]
V-Motif Western [4880-Views]
Costa Coffee Introduces 4u Healthy Food Range Across All UAE Stores in Partnership With Le... [4825-Views]
Corum Admiral's Cup Legend 47 Worldtimer' [4801-Views]
Rado True Thinline Les CouleursTM Le Corbusier' [4801-Views]
5 Ways To Bring Spring's Top Trends Into Your Wardrobe [4770-Views]
HONOR Launches the Iconic Glass Designed HONOR 20 in the UAE [4703-Views]
City of Gold Rewarded 200 Jewellery Shoppers With 4 Million Worth of Dubai City of Gold Co... [4685-Views]
Made in Italy: Top Picks from the Latest Deborah Milano Make-Up Range [4544-Views]
Introducing Zeitun Premium Face Care Collection [4185-Views]
Samsung's New Galaxy S20 Now Available for Pre-Order in the UAE [4105-Views]
SPORTMAX 50th Anniversary Capsule Collection [4099-Views]
Marks & Spencer, Britain's Best Loved Denim [4044-Views]
Dubai Customs Graduates 1st Batch of “Dubai Customs Leaders” Program [4032-Views]
Team Abu Dhabi Riders Grab Double Triumph On Dramatic Race Day in Kuwait [3995-Views]
Italian Food Exports to the UAE Increases by 11%, Reports ITA Ahead of Italian Participati... [3983-Views]
Aston Martin DBX Makes First Public Appearance in UAE [3953-Views]
Union Coop to Sponsor the FAZZA Championships for People of Determination 2020 [3916-Views]
AS World Group Global Roadshow Promotes Expo 2020 Dubai at 33rd African Union Summit in Ad... [3898-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories