ADIB becomes world’s first Islamic bank to launch digital ecosystem for auto sector

Abu Dhabi Islamic Bank (ADIB) has become the world’s first Islamic bank and the first bank in the region to launch Turbo – a new one-stop digital platform for the auto industry.

Residents can log onto turbo.auto website for all car-related requirements like buying and selling cars at competitive prices, booking a test ride, getting insurance offers, applying for auto finance, car registration, accessories and more.

As part of its digital transformation strategy, ADIB has launched Turbo, a free-of-charge platform in collaboration with Drive Ninja – a fintech company, and in partnership with key dealers and service providers such as Al Masood automobile, Al Ghandi, You drive, Carasti, Yallacompare and Car 24.

“Turbo is a one-stop solution, which brings together several auto industry partners on one digital platform to facilitate and centralise consumers’ car-related needs,” Philip King, global head of retail banking, ADIB, said during a press conference.

“This platform offers car listings from key dealers and provides all relevant services and information required by consumers in their car purchase or sales journey. Turbo marks the first integrated, digital ecosystem by ADIB and the bank is planning to launch other ecosystems in the near future.”

With Turbo, consumers can arrange for pre-owned car evaluation service, check on-site car budget calculator to know the estimated finance amount the buyer is eligible for and find a list of cars based on their budget. They can then select a car they are interested in, and arrange a test drive with the seller directly in just a few clicks.

ashwani@khaleejtimes.com