The adoption of global best practices in governance, as well as holistic stakeholder value creation, is a substantial strategic commitment and value creation framework.  However, in an age of exponential disruption and change especially as a result of globalization and digitization, it is also critical to embrace and adopt a culture of ‘innovation’ in order to keep up and perhaps exceed the pace of change happening in the financial industry and beyond.

The world is in a constant flux of change; people change, technologies advance, new problems arise, and with all that comes the need for new solutions. We embrace our evolving reality as we integrate a mindset of continuous ingenuity to introduce innovative tools that support our clients on their respective journeys towards success.

ahli Bank’s innovation strategy is founded on two primary pillars:

1. Internal Innovation: At Jordan Ahli Bank, we are committed to cultivating a culture of internally driven and motivated innovation practices. Our Innovation Department is dedicated to enhancing long-term economic performance and driving agile, lean operations. We achieve this by digitally transforming our bank products and services to meet the specific motivations and challenges of our customers, thereby creating personalized experiences. Our efforts are designed to set Ahli Bank apart from the competition, and to ensure alignment with the shared prosperity framework.

   Key strategic initiatives by the Innovation Department include:

   1. Introduction of Qawn: We successfully launched Qawn, a social financial platform that serves both the retail and business sectors. This platform has been instrumental in broadening our digital financial services, reflecting our commitment to adapt to evolving market needs.
   2. Open Banking with Developer Portal: As part of our ongoing digital transformation, we rolled out a Developer Portal within Qawn, facilitating the implementation of Open Banking capabilities. The Open Banking initiative helps foster a more integrated financial service environment.
   3. Ahli Future Program: In collaboration with esteemed Jordanian universities, we initiated the “Ahli Future” program. This program aims to provide specialized training to computer science students and related majors, bridging the skills gap and preparing graduates for future opportunities within the financial technology sector.
   4. AI-Driven Customer Service: In our continuous effort to enhance customer experience, we integrated AI functionalities using LLM technology into our chat services. This technology aids in efficiently addressing client queries in both Arabic and English.
   5. Transition to Cloud-based Solutions: To optimize our operational efficiency, the department adopted several cloud-based technologies. These platforms have been pivotal in the bank’s digital transformation journey, particularly in streamlining processes and advancing towards a more sustainable, paperless operational model.

   These initiatives underline Jordan ahli Bank’s commitment to innovation, operational excellence, and our vision of setting industry benchmarks in digital banking services.

2. External innovation: Ahli Fintech is a fully owned subsidiary of ahli Bank that is accelerating the development and investment in Fintech Startups from across the country, the region, and the world.  In 2019, we officially launched our fintech accelerator and announced started accepting applications from fintechs.  In a very short period of time, we received 116 fintech proposals from 12 countries (including Jordan, Palestine, Lebanon, China, Sweden, the UAE, India and the US).  Our investment committee and the Ahli Fintech team conducted a detailed review and due diligence on all the candidates, and then recommended to invest and accelerate in 5 of these startups.  In 2020, ahli Bank will accelerate the development of these fintechs, and a public announcement will be made on their capabilities and value propositions to the local and international markets.  The startups are benefitting tremendously from the banking experience of our team.  However, they are also encouraging our employees to think different and more entrepreneurially about innovation, which is also accelerating our culture transformation