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Commercial Bank of Dubai and Infinios Announce Strategic Partnership

14 October 2021

Dubai, UAE; and Manama, Bahrain. 4th October 2021. Commercial Bank of Dubai (CBD) and Bahrain-based fintech Infinios Financial Services B.S.C.(c) (Infinios) today announced a strategic partnership to support the growing fintech ecosystem in United Arab Emirates. Under the partnership, CBD, one of the leading banks in the UAE, will join hands with Infinios, a licensed and regulated card processor and payment services provider that offers next-generation digital banking and payment technology solutions, to enable fintech and digital commerce businesses and drive the take-up of embedded financial services in the UAE to achieve the financial inclusion objectives of the UAE.

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17 September 2019

Commercial Bank of Dubai launches ‘Cardless Cash Withdrawal’ facility

Dubai, 10 September 2019: Commercial Bank of Dubai, one of the leading banks in the UAE, announced the launch of ‘Cardless Cash Withdrawal’, a service that allows its wholesale banking customers to withdraw or transfer money round the clock without using a debit or credit card, from any of CBD’s ATMs across the country.  

Corporate, commercial and SME customers of the bank can now initiate the cash withdrawal through iBusiness, CBD’s state-of-the-art corporate online banking platform, which allows them to withdraw or transfer the funds from any CBD ATM without using a debit or credit card. This innovative service also allows the Bank's customers to make cash payments to CBD or non-CBD customers using only their mobile phone number. Beneficiaries will receive an SMS with an OTP to withdraw the cash from the closest CBD ATM. 

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said: “At CBD, customer centricity and convenience lie at the heart of all our initiatives. The launch of the Cardless Cash Withdrawal initiative underscores CBD’s strategy to leverage technology to enhance customer experience across banking channels. With this innovative service, CBD has seamlessly integrated ATM and online banking to provide customers with the convenience of withdrawing cash or sending cash instantly to those who might not necessarily have a bank account or their cards accessible to them.”

Amol Bahuguna, Head of Payments and Cash Management at Commercial Bank of Dubai, said: “With the increased usage of electronic channels and in line with our focus on innovation to enhance customers’ banking experience, we have developed this convenient and secure solution to withdraw cash without using any debit or credit card. This provides convenience to our wholesale banking customers as they will be able to withdraw cash without having to visit any of our branches.”

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