RAKBANK to accelerate AI strategy in UAE partnering with DataRobot and e&enterprise

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RAKBANK today announced that it has partnered with global AI Cloud leader, DataRobot and local AI service provider e&enterprise, to build and deploy industry leading AI platform to accelerate its artificial intelligence and machine learning- driven analytics. 

As RAKBANK progresses its strategic ambition to meet the rapidly evolving customer needs through harnessing the power of data and analytics, a leading AI platform will be an important enabler. DataRobot, with its proprietary approach to MLOps and proven track record serving the majority of the leading financial institutions of the world, will assist in RAKBANK’s analytics and data transformation journey. This partnership also marks the first ever deployment of Data Robot’s AI platform in a financial institution in the region.

Raheel Ahmed, Chief Executive Officer of RAKBANK, said: “RAKBANK’s data and analytics transformation journey will help us engage our current and prospective customers with hyper-personalized and relevant offers and communication. To do this, leveraging AI and Ml tools to maximize the power of data and analytics, and upgrading our capabilities through data democratization and cutting-edge Al platforms will be crucial. We will continue to develop our AI and ML capabilities so that it becomes a key source of the Bank’s competitive advantage.”
 
Debanjan Saha, Chief Executive Officer of DataRobot, added: “RAKBANK is leading the banking industry with their focus on leveraging AI to optimise many aspects of their business. By choosing the DataRobot AI Cloud Platform and the expertise of the DataRobot team and our strategic partner e& enterprise in the region RAKBANK can further accelerate their AI initiatives and drive transformative change for their organisation. We’re excited to work with such an innovative organisation and look forward to helping them make better, faster, and smarter business decisions guided by AI.” 
 
“At e& enterprise, we are committed to enable industry verticals with AI solutions and services by building a local ecosystem and capabilities. Digital transformation has also accelerated in the banking sector with changing customer demands and the need to create business value. It’s great to collaborate on this project for RAKBANK on its AI adoption journey where they benefit from the digital footprint and managed services expertise of e& enterprise, coupled with DataRobot’s AI platform capabilities” said Alberto Araque, CEO e& enterprise IoT & AI.

DataRobot AI Cloud is one of the most widely deployed AI platforms for end-to-end management of model life cycles. DataRobot brings together diverse data and hundreds of data scientists who continuously develop adaptable models to upgrade all aspects of RAKBANK’s businesses including support of growth agenda, risk management and compliance. DataRobot currently works with 40% of the Fortune 50 companies and their clientele includes 40% of the top global banks.