Arab Bank's Innovative Business Unit, AB iHub, prioritizes open innovation and collaboration. It's a platform where new ideas are nurtured, prototyping is facilitated, and experimentation is encouraged. Additionally, it provides resources such as training, managerial webinars, and tools for digital enhancement. With a vision to modernize traditional work dynamics, AB iHub integrates Arab Bank staff with startups, fostering an efficient transition of ideas into actionable prototypes.
Nested within AB iHub, AB Xelerate functions as the bank's Corporate Innovation & Venture Capital division. AB Xelerate's primary focus is on establishing relationships with a diverse range of startups, from FinTechs to other technology-driven enterprises, ensuring the bank remains updated in the realm of digital advancements. Its operations are not merely restricted to financial investments; it has successfully funded eight global entities and realized over 25 POCs. This emphasis on strategic partnerships is further demonstrated in their annual bootcamps, which are designed for knowledge exchange, mentorship, and innovation. A recent notable event was the bootcamp where four Jordanian startups began pilot projects in conjunction with Arab Bank.