Accenture has signed an agreement with UAE-based Commercial Bank of Dubai (CBD) to drive the latter’s technology transformation programme.

The engagement with Accenture will also help Commercial Bank of Dubai to further improve its banking services to personal as well as business customers.

Listed on the Dubai Financial Market, the lender is mostly owned by UAE nationals, including 20% by the Investment Corporation of Dubai (ICD). The bank offers its customers a full portfolio of retail and commercial banking products and services.

Commercial Bank of Dubai chief operating officer Ali Imran said: “At CBD, we are focused on leveraging our DNA of innovation to augment user experiences with digital platforms.

“This agreement will further accelerate our digital aspirations to operate more effectively and deliver tailored services to our customers using the next generation of emerging technologies.”

As part of the agreement, Accenture will also set up a development centre of excellence (COE) to streamline the bank’s IT platforms and incorporate technologies to improve customer experience.

Powered by hyper automation and generative AI solutions, the COE is expected to bolster Commercial Bank of Dubai’s IT efficiency and productivity across the software development lifecycle to world class standards.

Besides, Accenture will offer the bank with high-quality resources, best practices developed over decades of similar programmes, and an unwavering commitment to value realisation to seamlessly collaborate with its team.

Accenture global financial services industry practices chair David Parker said: “The banking industry is changing profoundly and banks, more than anything, need to innovate at speed and scale.

“Technologies like AI and cloud can help enormously to improve the agility, resilience and operational efficiency that give them a true competitive advantage. Our collaboration with CBD will draw on the full breadth of Accenture’s capabilities and expertise throughout our global network.”