Abu Dhabi Global Market awards CAT 1 Bank status to the Worlds’ first licensed Digital Trade Bank
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.
Innovation is Not a Destination, It’s a Continuous Journey
The banking industry today faces serious challenges from multiple angles. Most observers focus on the usual suspects such as risk, capital adequacy, return on equity, regulatory trust and compliance standards, to name a few.
However, I believe one of the most potent existential threats to the industry comes from unregulated but innovative and agile FinTechs. These disruptors have already triggered the process of unbundling of banking services by slowly but surely chipping away at some of the most profitable or least risky elements of banking. Left unchallenged, this could lead to a fundamental reshaping and revaluation of the corporate banking model as we know it today. Banks need to face up to this reality and find ways to rapidly transform their business models, system designs and most importantly, internal culture, to survive in this new environment.
These observations were reaffirmed during AGTB’s recent attendance at Inspire – Microsoft’s annual conference in Las Vegas where thousands of partners from over 130 countries meet to connect, collaborate, and share best practices.
The world’s first end-to-end digital trade finance bank – driven by key partnerships with Microsoft and Publicis Sapient
In July, Publicis Sapient, the digital business transformation hub of Publicis Groupe, and Microsoft announced their partnerships with Anglo-Gulf Trade Bank to support the launch of the world’s first end to end digital trade bank.
Anglo-Gulf Trade Bank (AGTB) will offer a transformational service in the sector by providing a superior client experience and addressing the challenge of creating a revolutionary digital banking solution that helps bridge the trade finance gap.
The Dividend of Cross-Industry Collaboration
Since the onset of the first industrial revolution, industries have found solace in standalone silos. Segmented into distinct and specialized industry boxes, the world’s key sectors have conformed towards operating within clearly established lines of business.
However, as the contemporary business world innovates in order to attain global opportunities and overcome challenges, the current zeitgeist is evolving as industry leaders seek value-rich synergies through meaningful collaboration.
Live panel discussion at the Global Trade Review UK 2019
Amit Garg, Head of Banking at Anglo-Gulf Trade Bank, shared insights during a live panel discussion at the Global Trade Review (GTR) UK 2019.
As an authority on the future of digital trade banking, Mr. Garg enlightened audiences at the premier trade event with legibility on how technology, regulation, and governance stands to impact and enable digitization of the banking landscape.
Banking on Digital Finance
Not too long ago, digitalization of the financial field was an omissible topic within the global financial paradigm. As a space monopolized by incumbents, the banking industry has been ruled by an elite few for some time. In turn, this has stifled innovation.
However, with the rise of digital payment technology, and a raft of breakthrough innovations across the habitual wealth and investment frontier, consumer and commercial banking are now teetering on the cusp of significant digital transformation.
Anglo-Gulf Trade Bank Chooses Assurance Software to Help Ensure Resiliency
Anglo-Gulf Trade Bank announced today that Assurance Software, a leading provider of comprehensive business continuity management and disaster recovery software and services, has become its business continuity applications provider.
“We are honored to support Anglo-Gulf Trade Bank in their multi-national, industry-disruptive mission to simplify and improve the accessibility of trade banking services through collaborative technology, data and a growing ecosystem,” said Craig Potts, CEO of Assurance Software. “Ensuring business resiliency will be a key component of their success as they define a new model for global trade banking and we will serve as their go-to partner for all their business continuity needs”.
Anglo-Gulf Trade Bank Leads The Piloting Of The Newly-launched APIX Platform At The Singapore Fintech Festival
The ASEAN Financial Innovation Network (AFIN) and the Headquaters of AGTB, Abu Dhabi Global Market (ADGM), have showcased the connectivity between the two platforms. Pilot test includes Anglo-Gulf Trade Bank.
Anglo-Gulf Trade Bank joins trade finance network Marco Polo
Anglo-Gulf Trade Bank has today announced that it has joined the Marco Polo Network, the largest network of commercial banks in the trade finance market leveraging blockchain technology to dramatically reduce costs, risks and improve efficiencies in financing trade.