Dubai Islamic Bank has selected IBM Consulting as its services provider to expedite the UAE-based banking institution’s data transformation journey.

Through the partnership, IBM Consulting will support the bank to develop a solid foundation and data roadmap needed to achieve its goal of becoming the most advanced Islamic financial institution in the world.

IBM Consulting expects to execute a design-led, data-driven approach for the Dubai Islamic Bank by utilising the IBM Garage, a collaborative method to assist customers speed up digital transformation.

The UAE-based Islamic banking company aims to unleash various use cases while assuring regulatory compliance through the promotion of rapid innovation, offering access to specialised skills, and advanced technologies.

Dubai Islamic Bank chief information officer Noman Rasheed said: “As Dubai Islamic Bank accelerates its data transformation journey, we recognise the need to leverage industry-leading expertise to underpin our ongoing data and integration transformation efforts.

“IBM Consulting has been an important partner in delivering strategic services over the years, and we are proud of our achievements thus far. We look forward to continuing our journey of innovation and business transformation together.”

According to IBM, both parties have also developed a customer journey analytics engine to serve as a foundation for artificial intelligence (AI) and machine learning models.

The models, which are designed to assist customer retention and enable more tailored offerings to its clients, are expected to allow the banking company to deliver improved digital services to its clients across various channels.

IBM Consulting Gulf, Levant and Pakistan managing partner Bishu Panigrahi said: “This programme is a significant milestone in our long-standing relationship with Dubai Islamic Bank.

“We are delighted to lead DIB’s data transformation journey using our deep expertise in banking and capabilities in data, integration and cloud transformation, as the bank continues to lead the way to be the most progressive Islamic financial institution in the world, while also responding to the market’s changes and evolving needs.”