10/14/2021 | Press release | Distributed by Public on 10/13/2021 22:22
Doha Bank bags Award for Best Digital Bank for Qatar
Doha Bank has been recognized as the "Best Digital Bank" by World Economic Magazine recently. On receiving the award Dr. R. Seetharaman said that "The future of Banking will be mobile and digital only. Mobile banking and digital banking will be felt in internet of things, block chain and open banking. Digital banks key success factors include differentiated value proposition, early revenue recognition, quick scalability, and cost efficiency. Financial institutions are exploring new technologies and investing in digital service delivery channels. Covid -19 has acted as a catalyst in accelerating the digitization which is need of the hour"
Keeping in-line with the Bank's Digital Strategy, aimed towards providing better e-banking solutions and services to customers, Doha Bank has been consistently working to improve Mobile Banking Application. Doha Bank's Mobile Banking application has been recently upgraded, targeting to position the channel as the most preferred digital touch point for Retail Banking customers. It is designed to meet all financial needs of different customers segments. Retail customers can now easily do their e-KYC from the convenience of their mobile without visiting the branches. By targeting simplicity, user friendly design and convenience, Bank has achieved this target and today Doha Bank's Mobile Banking application is the first preferred channel for customers.
Doha Bank has been instantly responsive from the outset of the Virus outbreak and took proactive measures in keeping customers safe, while maintaining customer service levels. This has created an opportunity for the bank to speed up initiatives pertaining to the digital transformation journey - e.g. encouraging customers to use alternative channels as opposed to physical visits to branches.
Digital has been the main transaction processing channel for our customers. In July 2021, 88% of all comparable financial transactions are performed through Doha Bank's digital and self-service channels and in line with the bank's digital strategy; aimed towards providing better e-banking solutions, Doha Bank will continue investing in digital and adding new services for individuals and corporate customers. Doha Bank has also launched its Digital Wallet Doha Pay, to provide Retail Banking customers with a convenient payment option. Easy Pay users can make QR code payments at selected merchants and send Person 2 Person money transfers.