Qatar Islamic Bank (QIB) took centre stage at the ‘Global Finance Magazine Awards for the Best Consumer Digital Banks in the Middle East 2019’, where it won three major awards: ‘Qatar’s Best Consumer Digital Bank’ for the second consecutive year, ‘Qatar’s Most Innovative Digital Bank’, and ‘Qatar’s Best Social Media Marketing and Services’.
The Global Finance magazine, headquartered in New York, is a reputable source for developments in the financial industry. The ‘World’s Best Digital Bank’ awards is in its 20th year, and it is the second time it has been introduced to the Middle East.
“Five years ago, we envisioned that the future of banking would be one driven to a large extend by accelerated technological change in response to changing customer demands and expectations.
“Since then, we replaced our core banking system, developed a brand new omni-channel digital platform for both our Retail and Corporate customers, and recently embarked on a bank-wide digital transformation of all our key products, services, and offerings. While doing so, we have one single objective in mind – to make banking simpler, faster, and better for our customers,” said QIB Group CEO Bassel Gamal.
Gamal added: “Thus, we are transforming to a real 24/7 institution, offering our customers the possibility to perform the majority of their daily banking needs through our mobile app and Internet banking, anytime, from anywhere, without the need to visit a branch.
“Having introduced a number of new innovative services for the first time in Qatar, we are much honoured that QIB’s digital leadership is recognised by the internationally acclaimed Global Finance’s World's Best Digital Bank awards.”
Winning banks were selected based on the strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth in numbers of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality. Winners were chosen among entries evaluated by a world-class panel of judges at Infosys.
These awards were presented to QIB for being the leader in innovation and digital banking in Qatar, reflecting QIB’s continuous efforts to strengthening the digital ecosystem in the country, the bank said in a statement.
Improving customer experience is at the centre of QIB’s digital and social media strategy. QIB’s omni-channel platform, which was launched two years ago, includes both mobile and Internet banking services. Introducing an omni-platform means that the customer experience is the same in any channel he or she decides to use (mobile banking, Internet banking or the bank’s website). This is achieved in a very safe way as the bank is applying strict cybersecurity measures and controls for all its systems and applications.
With an initial focus on building the most innovative and convenient mobile banking application, QIB selected, in collaboration with its customers, an array of new services to be introduced to ensure that its award-winning app is meeting their increasing demands to manage customers’ money instantly without needing to visit a branch and/or talk to a bank representative.
QIB is the first bank in Qatar to offer a full digital experience to provide financing to its customers and the first Islamic bank in the world to provide ‘Instant Finance’, an end-to-end, fully-digitised service, which was launched last year.
This innovative and fully-digital new service allows eligible Qatari customers to get new or additional personal financing in a few clicks through QIB’s mobile banking application. Additionally, the bank recently launched a new digital onboarding process allowing prospective customers to start a relationship with the bank by opening a Savings or Misk account through the QIB mobile app.
In addition to the three awards, QIB has received 18 prestigious awards in 2019, reflecting the results and achievements of the businesses, including Qatar's Best Bank from Euromoney Awards for Excellence 2019.
The Banker Magazine named QIB the Best Islamic Bank in the Middle East, Qatar, and the UK. Global Finance Magazine recognised QIB as Best Islamic Financial Institution in Qatar, Best Islamic Project Finance Provider in the World, and Islamic Finance Innovator 2019.
The Asian Banker Magazine awarded Gamal the CEO Leadership Achievement Award and the Best Managed Bank in Qatar. QIB was also named Best Islamic Bank in Qatar by the World Union of Arab Bankers (WUAB). In addition, QIB was recently named Qatar’s Islamic Bank of the Year and Qatar’s Best Retail Bank of the Year by the Asset Magazine.
“Five years ago, we envisioned that the future of banking would be one driven to a large extend by accelerated technological change in response to changing customer demands and expectations.
“Since then, we replaced our core banking system, developed a brand new omni-channel digital platform for both our Retail and Corporate customers, and recently embarked on a bank-wide digital transformation of all our key products, services, and offerings. While doing so, we have one single objective in mind – to make banking simpler, faster, and better for our customers,” said QIB Group CEO Bassel Gamal.
Gamal added: “Thus, we are transforming to a real 24/7 institution, offering our customers the possibility to perform the majority of their daily banking needs through our mobile app and Internet banking, anytime, from anywhere, without the need to visit a branch.
“Having introduced a number of new innovative services for the first time in Qatar, we are much honoured that QIB’s digital leadership is recognised by the internationally acclaimed Global Finance’s World's Best Digital Bank awards.”
Winning banks were selected based on the strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth in numbers of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality. Winners were chosen among entries evaluated by a world-class panel of judges at Infosys.
These awards were presented to QIB for being the leader in innovation and digital banking in Qatar, reflecting QIB’s continuous efforts to strengthening the digital ecosystem in the country, the bank said in a statement.
Improving customer experience is at the centre of QIB’s digital and social media strategy. QIB’s omni-channel platform, which was launched two years ago, includes both mobile and Internet banking services. Introducing an omni-platform means that the customer experience is the same in any channel he or she decides to use (mobile banking, Internet banking or the bank’s website). This is achieved in a very safe way as the bank is applying strict cybersecurity measures and controls for all its systems and applications.
With an initial focus on building the most innovative and convenient mobile banking application, QIB selected, in collaboration with its customers, an array of new services to be introduced to ensure that its award-winning app is meeting their increasing demands to manage customers’ money instantly without needing to visit a branch and/or talk to a bank representative.
QIB is the first bank in Qatar to offer a full digital experience to provide financing to its customers and the first Islamic bank in the world to provide ‘Instant Finance’, an end-to-end, fully-digitised service, which was launched last year.
This innovative and fully-digital new service allows eligible Qatari customers to get new or additional personal financing in a few clicks through QIB’s mobile banking application. Additionally, the bank recently launched a new digital onboarding process allowing prospective customers to start a relationship with the bank by opening a Savings or Misk account through the QIB mobile app.
In addition to the three awards, QIB has received 18 prestigious awards in 2019, reflecting the results and achievements of the businesses, including Qatar's Best Bank from Euromoney Awards for Excellence 2019.
The Banker Magazine named QIB the Best Islamic Bank in the Middle East, Qatar, and the UK. Global Finance Magazine recognised QIB as Best Islamic Financial Institution in Qatar, Best Islamic Project Finance Provider in the World, and Islamic Finance Innovator 2019.
The Asian Banker Magazine awarded Gamal the CEO Leadership Achievement Award and the Best Managed Bank in Qatar. QIB was also named Best Islamic Bank in Qatar by the World Union of Arab Bankers (WUAB). In addition, QIB was recently named Qatar’s Islamic Bank of the Year and Qatar’s Best Retail Bank of the Year by the Asset Magazine.
