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Qatar Islamic Bank has started a journey of digital change, moving beyond its origins as a traditional financial institution. This change has pushed QIB into the forefront of digital innovation, where it now holds a leading position as a pioneering force in modern banking. Today, QIB has broadened its offerings to provide a versatile and easy-to-use digital ecosystem that meets the varied needs of both retail and corporate clients. By blending advanced technology with customer-focused design principles, QIB embraced the digital era while setting new standards in the financial services industry. This transformation shows QIB's dedication to offering unmatched convenience, efficiency, and innovation in every aspect of its business, solidifying its role as a symbol of progress and success in Qatar's financial sector.
A Customer-Centric Approach
QIB's digital strategy is built around the customer. The Bank has developed a suite of innovative Sharia'-compliant services and products tailored to each customer segment. This ensures seamless Banking experience, allowing customers to manage their finances, shop conveniently, and even track their environmental impact – all within QIB's mobile apps.
Mobile Banking at the Core
QIB prioritizes mobile Banking as the foundation of the digital transformation strategy. This commitment is reflected in three distinct mobile apps: the feature-rich QIB Mobile App for complete financial management & control, the QIB Lite App for swift everyday transactions, and the Corporate Mobile App designed for businesses to manage their company's finances effectively. This diversified approach caters to a wide range of users, ensuring both individuals and enterprises have the precise tools for seamless banking 24/7.
The Evolution of the QIB Mobile App
Originally launched in 2019, the new QIB Mobile App has continuously evolved to meet customer needs. By leveraging new technologies, QIB transformed the app into a digital one-stop-shop, to cater to customers' banking needs, at any time with 24/7 accessibility. With over 250 features and a refined user experience, the QIB Mobile App became the preferred Banking channel for most customers.
QIB Mobile App
- 3.7 Million Logins Every Month
- 16% YoY increase in Mobile App active users
- Top rated mobile Banking app in Qatar
Market Firsts
The QIB Mobile App
The QIB Mobile App stands out for its emphasis on convenience and innovative Shari'a-compliant features. It empowers customers with the world's first "One Click Financing" for instant personal finance and the first ever fully digital instant credit card issuance in Qatar, both completed within minutes directly on the app. For new customers, QIB eliminates branch visits with its pioneering Digital Onboarding solution, allowing account opening in just a few minutes. The Bank's commitment to customer support extends to features like temporary credit limit increases and digital postponement options for financing installments.
This innovative approach to mobile Banking empowers users with an unprecedented level of control. Features such as instant access to digital card details for online shopping, on-the-go credit limit adjustments, and in-app card upgrades revolutionize the way individuals self-manage their finances on mobile devices.
QIB's dedication to fostering sound financial planning is reflected with the introduction of the digital-only Growing Deposit product. This innovative product encourages long-term saving habits, empowering users to build a secure financial future.
Furthermore, the QIB Mobile App serves as a comprehensive platform for all financial needs. Users can conduct various transactions, pay bills, transfer funds, and even handle school fee payments – all within a convenient environment. This eliminates the need to juggle multiple platforms or manage login credentials for a myriad of services.
The QIB Lite App
QIB breaks down language barriers with its multilingual Lite App, a simplified version of the Mobile App, designed specifically to meet the needs of low-income earners. This first in Qatar innovative app is promoting financial inclusion by providing easy access to essential Banking services. The QIB Lite App caters to those who prioritize quick and simple daily Banking needs, featuring instant transfers and payments at competitive rates.
The QIB Corporate App
Recognizing the needs of corporate clients, QIB launched the QIB Corporate Mobile App – the only Islamic Bank in Qatar to do so. This app allows QIB's corporate customers to have:
- Full control of their accounts via the Mobile App
- Instant access to their relationship managers
- The ability to fulfill their Banking needs without the need to visit a QIB branch
“We have been at the helm of a dynamic evolution, deeply influenced by the rapid pace of technological change and the shifting needs of our customers. We believe that the definition of success in Banking is in customer satisfaction, which is why we continue to invest in digital innovation. Our objective has always been to exceed expectations, and ensure that every interaction with QIB is intuitive, efficient, and rewarding”, said Bassel Gamal, Group CEO.
Going Beyond Banking
QIB sets itself apart by going beyond traditional banking products. Its dedication to customer service extends through strategic partnerships that drive innovation and education in Qatar. For instance, QIB joined forces with The Group Securities Companies to enable easy trading on the Mobile App. Additionally, the Bank collaborated with Damaan Islamic Insurance Company – BEEMA and Medgulf Takaful to offer instant Takaful plans through the Mobile app, ensuring customers' protection. Moreover, the QIB Marketplace on the Mobile App provides a diverse range of products, enhancing convenience for customers' shopping experiences.
Building a Holistic Digital Experience
Beyond mere transactional capabilities, QIB's digital experience fosters a holistic approach to financial management. This introduction sets the stage for exploring the innovative features offered through the QIB Mobile App, including functionalities designed to streamline daily tasks, enhance travel experiences, promote environmental awareness, and provide access to a comprehensive suite of financial tools.
- Simplified Transactions: The QIB Lite App is designed for low-income earners, facilitating financial inclusion through simplified access to essential banking services, including instant transfers and streamlined payments at competitive rates, available in multiple languages.
- Global Reach: For international needs, the Direct Remit service allows instant transfers to the popular expat destinations. Additionally, Visa Direct facilitates near real-time transfers to overseas Visa cards in a total of 57 countries.
- Travel Ready: For frequent travelers, QIB's Travel Mode is the feature to use. Customers can access travel insurance, secure instant financing for unexpected expenses, manage credit limits, and receive live currency rates – all conveniently located within the Mobile App. The app also assists with activating card magstripes for international usage, scheduling trips, and finding ATMs abroad, ensuring a stress-free travel experience.
- Digital Cards: All QIB's Debit, Credit, and Prepaid cards are now digitized, providing instant access to card details via the QIB Mobile App. The cards are also seamlessly integrated with Apple Pay, Google Pay, and Samsung Wallet.
- Sustainability at its Core: QIB goes a step further by partnering with Visa and ecolytiq to offer a Carbon Emission Tracker. This innovative tool empowers customers to monitor their carbon footprint based on spending habits, promoting environmental awareness, and encouraging sustainable choices.
- Enhanced Security: The QIB Mobile App integrates a comprehensive suite of features catering to diverse needs. Customers can enjoy enhanced security with Secure Key, a faster and more secure authentication method.
Looking Ahead: A Commitment to the Future
QIB's digital transformation journey is an inspiring story of innovation, focus, and determination. The Bank has redefined banking in Qatar while emerging as a leader in the digital banking landscape. QIB's commitment to offering a holistic digital ecosystem empowers customers to manage their finances effectively, shop conveniently, and track their environmental impact – all within the QIB mobile apps.
Looking ahead, QIB will continue to invest in cutting-edge technologies and explore disruptive solutions. With more new features and services to be announced in 2024, QIB commits to further strengthen the digital banking experience for customers, and shaping the future of finance in Qatar and beyond.
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