(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: Qatar Islamic Bank (QIB), Qatar's leading digital bank, has recently received three awards at The Asset Triple A Digital Awards. The bank has been honored with the titles of Digital Bank of the Year in Qatar for the fourth year in a row, Best Retail Mobile Banking Experience in Qatar, and Best Mobile Banking Application in Qatar as a recognition of its pioneering efforts in digital banking innovation and commitment to enhancing the customer journey.
QIB has made significant progress in introducing first-to-market digital products and services in Qatar, as part of its commitment to offering customers innovative and convenient banking solutions that match their lifestyles and needs. QIB introduced over 50 new digital features across its digital channels last year, showcasing a commitment to enhancing the digital experience for both individual and corporate customers. Notable digital innovations in 2023 include the QIB Lite App, QIB SoftPOS solution, the digitalization of all Credit and Debit Cards, QIB Marketplace, the launch of innovative services such as Travel Mode and a Carbon Emission Tracker.
Over the past year, QIB has significantly bolstered digital engagement with an astounding 99% of transactions being self-serve. This remarkable feat has led to a notable 36% reduction in branch transactions since 2021 allowing the branch employees to focus on financial advisory and better service.
QIB's comprehensive digital strategy and continuous innovation have resulted in increased digital engagement, improved customer experiences, and a wider range of accessible and convenient services, contributing to the growth and sustainability of the bank in a rapidly evolving financial landscape. In 2023, the Retail Mobile app, the primary channel for all individuals banking with QIB, witnessed an increase of 17% in registered users, 28% in financial transactions and 42% in non-financial transactions.
Reflecting on these achievements, Constantinos Constantinides, QIB's Chief Strategy & Digital Officer said:“We are honored to be acknowledged by The Asset Triple A for our groundbreaking endeavors in advancing digital services development and adoption within Qatar's retail and corporate banking landscape. Through strategic investments in technological innovation, we have revolutionized the customer experience, setting a new standard in both retail and corporate banking that rivals some of the most progressive global institutions, both in terms of innovation and business results contribution.”
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