National Bank of Bahrain is setting new standards in online financial services with its tailor-made offerings.
Bahrain’s highly developed financial sector has made it necessary for banks to differentiate themselves and adopt new technologies and initiatives in order to gain a larger market share.
Retail banking is a significant part of this sector and banks need to offer innovative and tailored solutions to attract and retain customers. In addition, the domestic and international competition in Bahrain’s banking industry means that lenders must stay on top of the latest technologies and initiatives to remain competitive.
Tech integration
Given the rapidly changing technological landscape and evolving customer needs, the need for digital transformation in the financial services industry is critical. As the sector continues to evolve, digital technologies are playing an important role in transforming the industry.
Banks in Bahrain have been embracing digital transformation to enhance their services and stay competitive. Several lenders have launched digital-only subsidiaries, and many others are introducing innovative solutions such as mobile banking apps, contactless payment systems and loyalty-based rewards programmes.
One of the lenders at the forefront of this digital transformation is National Bank of Bahrain (NBB). To meet the demands of a new era of customers, NBB has developed tailor-made banking products and services. The lender is setting new benchmarks in digital banking services and introducing creative solutions that deliver instant customer benefits.
Protecting customers
Biometrics technology is increasingly being used in digital banking to enhance security and provide a frictionless user experience. With features such as fingerprint and facial recognition, customers can quickly and securely log in to their accounts, complete transactions and access other banking services with ease, eliminating the need for traditional passwords or PINs.
To ensure customer data and privacy are protected, NBB has integrated advanced biometric authentication features such as fingerprint and facial recognition for a fast and secure login process. These features provide an added layer of security for customers’ accounts and make digital banking more convenient and seamless for NBB’s clients.
NBB has won accolades in two categories at the Mena Banking Excellence Awards 2023: Best Retail Bank – Bahrain and Best App for Customer Experience.
NBB has also revamped its digital mobile application and about 70 per cent of new digitally opened accounts have been secured so far this year, with more than 47 per cent of customers registering digitally, representing a 32 per cent increase compared with 2022.
Rewarding loyalty
In today’s fiercely competitive retail banking industry, acquiring new customers and retaining existing ones is a top priority. One effective way that banks accomplish this is through loyalty programmes. Such initiatives offer rewards and incentives to customers for their continued patronage, encouraging them to remain committed to the bank over the long term.
NBB’s Points loyalty programme enhances customer loyalty by providing a customised automated rewards system that aligns with the bank’s digital strategy. With a focus on enhancing customer experience, NBB has made it convenient for customers to sign up for the Points programme by using their NBB Digital Banking app login credentials.
Customers can download NBB’s Points loyalty programme via iOS and Android mobile applications. The programme offers a wide range of benefits, from donating to charities to redeeming points for air miles, receiving instant cashback on their cards, and earning rewards on transactions. It also supports Bahrain’s SME segment with a portal that enables businesses to launch their own offers, adjust their duration and reflect these changes instantly to the customer’s Points app.