Qatar Islamic Bank is creating a customer-centric banking experience by digitalising its sharia-compliant banking solutions.
The shift towards digitally transforming a bank’s services and products is no longer a trend but a necessity in today’s industry. As customers demand greater convenience and accessibility, lenders must adapt to remain competitive.
By transitioning traditional banking services and products onto digital platforms, banks can improve customer experience, streamline internal processes, reduce costs and increase efficiency.
Qatar Islamic Bank (QIB) is a prime example of a lender that recognises the importance of transformation to meet the evolving needs of its customers. The bank has embraced digitalisation and offers sharia-compliant banking solutions including private, affluent and corporate/SME banking centres.
Digital onboarding
QIB’s commitment to digitalisation is evident in its launch of a digital onboarding solution on its mobile app – the move was part of its digital transformation programme in 2019.
The app provides customers with a seamless and convenient banking experience, enabling them to initiate a banking relationship with QIB quickly and easily from any location they choose. It offers a complete suite of features including advanced risk-based biometric authentication technology that facilitates the submission of identification documents using OCR technology.
QIB’s digital onboarding solution eliminates the need for customers to input their personal information manually and ensures a smooth and efficient onboarding process. It also offers live chat and video banking features that enable new clients to connect with a bank representative for assistance. These features are available to all accounts and customers, including individuals, corporates and small and medium-sized enterprises (SMEs), and they comply with all customer documentation requirements mandated by regulators.
The onboarding solution also ensures high privacy and data confidentiality, utilising biometric information and cross-verification with the Qatar Central Bank and the Interior Ministry’s databases to prevent fraudulent activities. Since its launch in 2019, the solution has enabled more than 28,000 new customers to open accounts within minutes without visiting a QIB branch. In addition, for key retail products such as personal finance and credit cards, digital sales are contributing almost 60 per cent of the total sales volume.
Committed to digital
QIB is committed to leading the digitalisation of banking products and services in Qatar, and will continue to deliver innovative banking solutions that cater to its customers’ evolving needs.In 2021, the lender launched an updated version of its mobile app, adding a secure and smart biometric login, self-registration, smart shortcuts and a more efficient navigation panel. With these additions, QIB aims to provide its clients with a more immersive experience and better access to digital banking services.
The bank has also introduced new financial solutions and initiatives including merchant acquiring services, mobile point-of-sale (POS) and an online wages protection system. These new offerings are helping QIB provide a comprehensive financial solutions and services package for SME customers.
Qatar Islamic Bank has won awards in three categories at the Mena Banking Excellence Awards 2023: Best Retail Bank – Qatar, Excellence in Customer Centricity and Excellence in Mobile Banking.
Qatar Islamic Bank is enhancing the customer experience and modernising its offerings by delivering innovative features that meet and exceed client needs.