ADIB launch digital ecosystem “Turbo” for auto industry
Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has become the world’s first Islamic bank and the first bank in the region to launch a digital ecosystem for auto- related needs “Turbo”.
Turbo launched in collaboration with Drive Ninja, a fintech company, brings together several auto- industry partners on one digital platform to facilitate and centralise all consumers’ car-related needs including buying and selling cars, takaful car insurance, car finance, car maintenance and accessories, export and import of cars, fuel and car ride, traffic payment and car registration . The launch of Turbo will mark UAE’s first online consumer ecosystem helmed by a bank that combines several service providers on one platform to deliver their services to match customer auto-related needs.
Launched in partnership with key dealers and service providers such as Al Masood automobile, Al Ghandi, You drive, Carasti, Yallacompare and Car 24, ADIB aims to provide a one-stop solution for cars through an integrated platform. The platform offers consumers access to all auto-related services with the possibility to search for cars from listed car dealers, sell their cars, arrange for pre-owned car evaluation service, book a test drive, get an insurance offer or apply for auto finance with ADIB among other benefits. The phase one of the platform includes listing from 30 car brands with more than 750 cars available for consumers to choose from . An on-site car budget calculator provides the estimated finance amount the buyer is eligible for and then serves them a list of cars based on their budget. They can then easily select a car they are interested in, and arrange a test drive with the seller directly.
ADIB aims to roll out more features including partnering with more dealers, service providers and government entities to provide services such as car maintenance, road assistance, fuel, car rides, traffic payment, car import and export and car registration.