Research Paper: Digital Transformation of Banking and Financial Institutions in the UAE: Understanding the Common Challenges for Collective Action

ADGM Academy Research Centre, in collaboration with the College of Business and Economics at the United Arab Emirates University (UAEU), undertook a research project aimed at understanding the current landscape of the digital transformation of banking and financial institutions in the UAE and the common challenges faced.

The research was supported by senior representatives from across the UAE’s financial sector, who shared their insights via interviews conducted by the research team.

Digital transformation has become increasingly important in all spheres of life, including the financial sector of the UAE.  The government of the UAE has embraced digital technology as an essential enabler, adopting various strategies to empower both the government and business sectors. However, it is also apparent that multiple challenges mitigate against the adoption of digital technology.

The outcomes of this research will enhance future collaboration between government entities, banking and financial institutions, and the academic world to find solutions through research projects and the sharing of best practices and experiences.