Abu Dhabi Securities Exchange (ADX) is showcasing its key advances in artificial intelligence and in digitisation that enhance the services of the Exchange for local and international investors. The technology developments Arqam and ADX Digital Wallet powered by payit were demonstrated at the Abu Dhabi Government Pavilion at GITEX Technology Week 2019, taking place 6th-10th October at the Dubai World Trade Centre.
ADX is employing advancements in Artificial Intelligence (AI) through its new platform Arqam, used for business management to support the right decision-making based on multiple visions and accurate data provided by the Platform. Arqam employs multiple sources to provide machine-computed advice and information, to support the decision-making process of management. The Platform uses a selection of data mining, analytical data process of internet data and reporting to provide a suite of information. This is all fed into a dashboard interface which provides live data, with the bonus of easy, user-friendly access either from a computer or a mobile phone.
Commenting on Arqam, His Excellency Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, said “The attributes of Arqam empower board of directors, management, and decision-makers with a variety of different perspectives to boost the executive process. The advantages of this application also ensures that customers and stakeholders are brought closer into the process, by providing more insights into the Exchange based upon the Platform’s decision support system.”
A demonstration was also carried out showing ADX advances in smooth and efficient smart investor services, through ADX Digital Wallet powered by payit. This mobile-based digital wallet enables the sending and receiving of digital funds with ease, through a linking of ADX issued investor number. Users can deal with the stock exchange in real time and receive instant dividend pay-outs – this small but significant change increases fluidity by providing ease compared to other payment methods.
His Excellency continued: “This digital wallet empowers users to manage their stock exchange requirements through a real-time digital pay-out model, where investors receive the dividends instantly within their wallet as soon as it is distributed. This empowers investors and corporate entities to move away from a manual dividend distribution process through cheques or other means. The approach is one expression of our competitive regional-leading exchange, with services on a par with the best in the world. ”
It is worthy to note that ADX has recently launched the second phase of its digital platform (SAHMI) which enables ADX investors to obtain various new digital services either for their own- or on behalf of their minor- children.
Phase two of SAHMI allows transferring of securities between the investor’s accounts, transferring of securities between different financial markets, electronic attending & voting for Annual General Assembly meetings for listed companies, and issuing different portfolio reports such as: Investor Securities Pledge Report, Cash and Equity Earnings Report, Stock Transfer Report. SAHMI is fully integrated with SmartPass & the Whole of Government initiatives while providing online payment and tracking of investor service request capability and well as live Market watch.
To deepen its essential contributions towards the economic diversification of the Emirate through attracting domestic and foreign investment, ADX continues to employ the latest digital technologies in financial activities, customer services for investors. The Exchange has initiated a comprehensive suite of electronic systems, solutions and smart applications focused upon enhancing the digital infrastructure and driving the transformation strategy of the Abu Dhabi Government.
ADX’s participation at this important event promotes partnerships between the public and private sectors through close alignment between the two sectors, in order to increase investment and open new horizons. The organisation’s appearance at GITEX aimed to empower customers, investors, brokerage firms, listed companies and other stakeholders, with the ability to deal with their investments on-the-go and complete their transactions wherever and whenever they want.
