QIB continues being at the forefront of banking innovations with the launch of a new mobile application dedicated to corporate customers
12 July 2020, Doha, Qatar: As part of QIB’s ongoing efforts to provide innovative digital solutions to empower its customers, Qatar Islamic Bank (QIB) launched a new mobile application, the QIB Corporate App, that is specifically designed to address the financial requirements of its corporate and small and medium enterprises customers.
In recent months, QIB witnessed a surge in the usage of its Corporate Internet Banking platform, with more than 90% of local and international corporate transfers performed through internet banking. With customer-centricity placed at the heart of QIB's digital transformation, the Bank found that its online platform is now largely used and praised by its corporate customers, which manage and approve the majority of their daily financial transactions in a fast and secured way. With the goal of making the entire banking experience even simpler and more efficient for its corporate customers, QIB developed the QIB Corporate App.
Available on iOS and Android devices, the QIB Corporate App is one of the first applications of its kind introduced to the Qatari market. The first release of the QIB Corporate App enables customers to review and approve transactions from inside and outside Qatar, around-the-clock, as well as viewing account balances and account summaries. More features and benefits are soon to follow, further easing and improving the banking experience for corporate customers.
Tarek Fawzi, General Manager, Wholesale Banking Group, at QIB said: 'The recent changes in customer behavior caused a paradigm shift in the increasing need and importance of new digital channels, as customers expect banking services to be made available wherever they are, at any time. The QIB Corporate App was developed to meet a popular business demand and demonstrates our commitment to offering a banking experience that empowers our corporate customers to conduct their business with ease and security. By understanding these digital needs, the launch of the QIB Corporate App is the logical next step towards creating an innovative, convenient, and seamless banking experience for our corporate customers. Our Corporate App is a testament to our dedication in helping businesses of all scales to grow and continue adopting to the digital transformation of Qatar’s economy.'
He added: “The App is our latest digital innovation for customers seeking simplified and efficient mobile solutions for their day-to-day banking needs. Built with world-class technology, the app simplifies the approval of corporate banking transactions. Authorized senior management executives now have the ability to review and approve transactions at any time.”
The app plays a pivotal role in QIB's digital transformation strategy, designed to provide customers with an easy, secure and convenient banking experience. QIB is committed to bringing the entire banking experience to customers on their mobile while continuously integrating their feedback. As QIB continues to encourage customers to use online platforms to fulfill all of their banking requirements, this initiative will ensure that corporate customers can conveniently manage their transactions remotely, limiting the need to visit a branch.
The QIB Corporate App is available for customers registered on QIB’s Corporate Internet Banking. To avail the services of the App, corporate customers can simply download the application, and use the same credentials of their Corporate Internet Banking to login.
To continue making the banking experience as convenient as possible, QIB has also upgraded its Corporate Internet Banking platform with features such as offering flexible timeframes to approve transfers with 30 days from the transfer date, and access to online reports for Dividend Payments, Post Dated Cheques, and Positive Pay Cheques. Corporate customers can further utilize Liquidity Management tools and set up automatic instructions for SWEEP and Auto Cover services. They can also create Murabaha Term Deposit and Certificate of Deposit, as well as request for a Letter of Credit and Letter of Issuance.
In upcoming features, the QIB Corporate Internet Banking platform will include Corporate Mobile Banking tools to access the account summary, review and transaction approval, as well as a streamlined host-to-host system integration tool that facilitates automatic payment files uploaded from the customer’s Enterprise Resource Planning software.