Commercial Bank of Dubai taking Digital Transformation to the next level

CBD Taking Digital Transformation to the next level

• The Bank launches a series of digital initiatives
• Digital and customer-centricity core to CBD strategy

DUBAI, 22June, 2016:

Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has announced a series of innovative and first-to-market digital banking services aimed at making banking simpler, easier and more personalized.

The new initiatives are enabled by “CBD nEXT”, a multiyear transformation program that has the objective of building the new CBD around customer needs by leveraging a deep understanding of client insights.

Leveraging digital technologies and innovations is the foundation for CBD’s customer initiatives, which drive its overall strategy to be a leader in the digital banking sector and support Smart Government

Some of these key initiatives include  “Real time customer Onboarding”, a new mobile banking app, new enhancements for customer engagement a completely new customer experience for people moving to UAE, (“movingtouae.ae”), as well as advanced payments solutions to support Smart Government and our Corporate clients.

Commenting on the new initiatives, Mr. Murray Sims, GM Personal Banking Group, CBD said: “Our customers have told us they prefer digital banking platforms that provide the ease and flexibility to bank anywhere, anytime in a personalized way. We have designed our innovative digital banking services, addressed our changing customer needs to provide easier and simpler banking. It is about leveraging world-class technology to create a first-class customer experience.”

He added: “Today, we are introducing our Digital Banking Strategy and showing the wide range of digital innovations that we have launched as part of our first phase of activities. Our new digital initiatives, which are designed with our clients in mind, are core to CBD’s strategy of leveraging digital technology to deliver "the future" to our clients today.”

Commenting on the Bank’s digital transformation, Mr. Walter Lironi, GM Central Transformation Office of CBD, said: “The digital transformation is a strategic priority for CBD. During the past months, the Bank progressed in developing an omnichannel distribution model that facilitates customers’ relations with the Bank where they want, how they want and when they want. We are the first bank in the region to have committed as much to transformation as CBD, effectively rewiring the whole Bank around our customer needs.   This focus means that CBD’s Digital transformation will be much more extensive and have a direct positive impact on clients.”

He added: “Our clients’ needs are rapidly changing and they want to bank in the most convenient ways available. We are transforming our digital capability, providing customers with simpler, streamlined interactions and personalized services across all our delivery channels, online, mobile and branches. The Bank is not only aggressively pursuing digital initiatives across retail and Attijari Al Islami, but is also reinforcing its core leadership position with corporate, commercial clients and the UAE government through advanced payment solutions. For example CBD recently launched digital payment and cash management solutions such as iBusiness, iPrint and iCollect for Corporate and Commercial customers. The new services increase efficiencies in all transaction processing and reconciliation activities, and improve operational efficiencies as well. CBD has also enabled online payments and conversion to a cashless environment for main government entities such as the Dubai Chamber and the National Olympic Committee.”   

Some of these initiatives include:

• Real-time Customer Onboarding initiative – the customer onboarding initiative aims to reshape and enhance the customer experience but it will also deliver fast account opening, improve operational efficiency and produce significant business opportunities. The new customer on-boarding process is completed end-to-end in real-time. This includes collecting client information, verifying their identity, issuance of the debit card and the presentation of the welcome pack.

• New mobile app – The new App is a breakthrough mobile app designed to make banking simpler, smarter and faster for its customers. The new CBD mobile App allows customers to keep better track of bank account activities and view transactions, pay utilities and stay updated on CBD’s latest products and promotions.
• Enhanced Experience for New UAE Arrivals: “Movingtouae" - The new site provides a wide range of information, tools, resources and services that assist newcomers to UAE to settle in and meet their needs. It provides a one-stop access for all the information they need, whether they are looking for a school, housing, health and medical services or simply knowing how to move around. In addition, the site will also provide information on how to get started on the right financial path with sound financial advice.

Also commenting on the initiatives, Asem Fikree, Director of Systems and Operations, said: “We at CBD focus on empowering our customers to support us delivering experiences that make their lives easier and simpler while addressing each of their banking needs in a personalized and tailored manner. With this approach,  we have over the years uniquely positioned ourselves with our ability to recognize our customers’ needs, give them what they want, evolve with their changing needs and habits, and becoming a part of their daily lives to help them better manage and plan to ensure they are financially healthier, happier and enjoy banking with us.”

He added: “We want to offer our customers what they want, when they want it. Customer convenience and centricity lies at the heart of all our digital banking initiatives. We seek to seamlessly integrate banking into our client s’ everyday lives so that banking becomes simpler, easier and personalized – which means ‘Banking Powered by You: Our Customers’.”