UAE: Top bank will not update customers’ details at branches from February 2024

Its branches will no longer accept requests to update mobile numbers, email IDs, mailing, address and identification documents of the customers

by

Waheed Abbas

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Published: Thu 25 Jan 2024, 9:47 AM

Last updated: Thu 25 Jan 2024, 11:01 PM

UAE’s top bank has announced that it will not update customers’ personal details and documents at its branches from next month.

In a notice sent out to its customers on Wednesday, First Abu Dhabi (FAB) said with effect from February 7, 2024, its branches will no longer accept requests to update mobile numbers, email IDs, mailing, address and identification documents of the customers.

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By the end of the third quarter of 2023, FAB had 65 branches/cash offices across the UAE.

The UAE banks are increasingly shifting their customer services to digital platforms, allowing them to avail services with a click of a button from the comfort of their homes and offices.

According to the Central Bank of the UAE’s (CBUAE) 2022 report, the number of physical bank branches decreased by 22.3 per cent in the past three years, driven by the digitalisation of financial services. In addition, 22 local banks and 1 specialised bank were operating through a total of 573 branches, electronic banking service units and pay offices.

FAB achieved record performance in the first nine months of 2023, reporting a net profit of Dh12.4 billion, an increase of 58 per cent year-on-year.

In a major announcement, the Abu Dhabi-headquartered lender aimed to facilitate $75 billion of sustainable finance projects by 2030. It funded more than $18 billion in the first 9 months of 2023 and $27 billion to date from the 2022 baseline.

The lender said customers can update these personal details “directly on the FAB Mobile app anywhere and anytime – making it easier and more convenient.”

In addition, customers can also update their mobile number, email ID and Emirates ID through FAB’s automated teller machines (ATMs).

FAB this week upgraded its IT system to enhance customer experience.

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