ADIB Launches Groundbreaking B2B Marketplace, Empowering SMBs in the UAE
In a strategic move to bolster small- to medium-sized businesses (SMBs) in the United Arab Emirates (UAE), Abu Dhabi Islamic Bank (ADIB) has unveiled the ADIB Business Souq, a cutting-edge Business-to-Business (B2B) marketplace. This innovative platform aims to provide digital access to a wide array of essential services for SMBs, fostering convenience, accessibility, and community-building within the UAE’s business landscape.
The ADIB Business Souq is positioned as a comprehensive, one-stop platform that digitally connects SMBs with crucial services, including accounting, human resources, consultancy, and information technology. Announced through a press release on January 10, the platform is designed to streamline and digitize the process of SMBs accessing services and offers from businesses across the UAE.
Amit Malhotra, the Global Head of Retail Banking at ADIB, highlighted the platform’s significance, stating, “It is a one-stop platform that digitally connects [SMBs] with essential services such as accounting, HR, consultancy and IT, all digitally accessible.”
SMBs can easily access the services and offers available on the ADIB Business Souq by visiting the platform and logging in with their UAE mobile number, name, and a one-time password. This streamlined authentication process ensures that SMBs can swiftly connect with the services they require without unnecessary complexities.
Once logged in, SMBs have the flexibility to select offers, fill out request forms, and monitor the progress of their requests directly on the platform. Email and SMS notifications keep them informed at each stage of the process, enhancing transparency and communication.
Efficient Communication with Partner Brands
One of the key features of the ADIB Business Souq is its ability to facilitate efficient communication between SMBs and partner brands. Within 48 hours of submitting a request, the partner brand responds with a call to discuss the buyer’s requirements, apply any relevant discounts, finalize pricing, and send a confirmation email once the offer is active.
Inclusivity and Community Building
Unlike some platforms exclusive to particular banks, the ADIB Business Souq is available to all SMBs in the UAE, irrespective of their banking affiliations. This inclusivity allows for a broader community of suppliers and service providers, enriching the platform’s offerings.
In addition to accessing a wide array of services and offers, the platform encourages networking and collaboration among businesses, creating a vibrant community. The press release stated, “Furthermore, new [SMB] customers can open an ADIB account instantly through a fully automated process.”
A Boost for SMBs Amidst Global Challenges
The launch of the ADIB Business Souq comes at a crucial time when SMBs worldwide face unprecedented challenges. The platform aims to empower SMBs in the UAE by providing them with easy access to essential services, fostering a sense of community, and enabling them to adapt to the digital era effectively.
ADIB’s launch of the Business Souq signifies a commitment to supporting the growth and resilience of SMBs in the UAE. By leveraging digital connectivity and fostering a community of businesses, ADIB aims to create a platform that not only streamlines processes for SMBs but also contributes to the overall vibrancy and dynamism of the UAE’s business landscape.
