Qatar Islamic Bank (QIB) was recognised for reforming the banking sector in Qatar and the region with the introduction of innovative digital banking solutions for both retail and corporate customers.
QIB was awarded six accolades at Global Finance’s 2021 Best Digital Banks Awards across two major categories – ‘World’s Best Consumer Digital Banks in the Middle East 2021’ and ‘World’s Best Corporate/Institutional Digital Banks in the Middle East 2021’.
In recognition of its outstanding retail banking offering, QIB was named ‘Best Consumer Digital Bank’, ‘Best Online Product Offerings’, and ‘Best in Lending’. It was also named ‘Best Online Portal’, ‘Best Open Banking APIs’, and ‘Best SME Banking’ to honour its exceptional services to corporate customers.
This unique programme recognises and honours entities that regularly identify new paths and design new tools in finance. Global Finance Magazine has recognised QIB’s digital solutions to be amongst the best in the world in Digital Finance in 2021.
In its 22nd annual selection for the ‘World’s Best Digital Banks’, winners were selected in Africa, Asia-Pacific, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. QIB’s recognition was announced following the evaluation process by a world-class panel of judges and based on the selection of the editors of Global Finance.
The selection of winners achieved excellence across a range of criteria, including the strength of strategy for attracting and servicing digital customers, the success in getting clients to use digital offerings, the growth of digital customers, the breadth of product offerings, the existence of tangible benefits gained from digital initiatives, and the design and functionality of online tools, in addition to the strength and success of digital products and services.
Constantinos Constantinides, QIB Chief Strategy & Digital officer said: “We are pleased to be recognised amongst the top players in the banking industry by a world-renowned entity, such as Global Finance. This is a testament to QIB’s continuous efforts to develop its existing products and services suite and to continue to create innovative financial solutions that meet the ever-changing needs of its customers”
He added: “QIB for the past few years has been working on a long-term plan of digitising its products and services with a significant focus across online and mobile banking to improve the individual and corporate customer experience and put them in control of their financial lives, which is a key part of the bank’s strategic vision. As we remain committed to this purpose, new payments, and transactional features that accommodate our clients’ needs and requirements will be rolled out once they have completed the required approval processes.”
QIB has excelled in upgrading its digital banking channels, namely the QIB mobile App with its more than 100 features and services. QIB launched new digital products exclusively via the mobile App to improve the banking experience of its customers, including the Domestic Workers Digital Accounts, the Digital Direct Remit Service, and the mPay digital wallet.
The bank also continued offering its retail customers the fastest and most secure ways to remotely fulfil their banking needs, including opening a bank account, getting personal financing, or issuing a credit card via the QIB mobile App.
On the corporate banking level, QIB has improved the digital banking experiences of its corporate customers with the launch of the QIB corporate App as a convenient, trusted, and safe way for corporates to bank with QIB. The bank is also the first Islamic bank in Qatar to launch an integrated Host-to-Host (H2H) Online Payment Management solution for large corporates.
QIB has also succeeded in digitising SME financing and to automating standard credit applications through its ‘Aamaly’ programme designed to provide tailored financial and advisory products and services to SMEs in all industries.
Headquartered in New York with offices around the world, Global Finance’s audience includes senior corporate and financial executives responsible for making investment and strategic decisions at multinational companies and financial institutions.
The magazine regularly selects the top-performing banks and other providers of financial services, and its awards programmes have become a trusted standard of excellence within the global financial community.