Dubai: Commercial Bank of Dubai (CBD), announced on Saturday its plan to launch “CBD Now”, the nation’s first digital-only bank targeting millennials and digitally connected customers in early 2017.
“The launch of CBD Now during 2016 UAE’s innovation week is a timely example of how CBD supports the vision of the UAE government to develop innovation and drive client happiness,” said Peter Baltussen, CEO of Commercial Bank of Dubai.
The new proposition will allow customers to completely change the way they manage their finances using technology to serve all their banking needs. The bank will offer customers a smart, seamless and personalised mobile bank, allowing them to perform all financial services via their smartphone.
The bank plans to offer a series of specialised products, including current accounts, savings accounts and credit cards. These have been designed to help our customers better control their finances.
“CBD Now will redefine what a bank should be. It is built around customers and offers an entirely unique experience that is simple, smart and safe, whereby everything can be done via smartphone. We believe that it will be the 21st century choice for customers who want a bank that’s not just unique and different, but more importantly, better,” said Murray Sims, General Manager Personal Banking Group at Commercial Bank of Dubai.
“The bank plans to announce CBD Now Co-founders programme in the near future, that involves the pioneering customers who provide input to building the bank of their dreams.
The co-founders will be the first customers invited to register for the bank. They will help shape, develop, and co-create the products, services, and benefits. We will openly invite their feedback to refine the experience before rolling out the brand to the public.
“We believe our customers have a lot of know-how when it comes to banking services. Customers can assist during the piloting phase to influence product development and refinements before rolling out the brand to the public,” said Sims.
As part of the digital transformation strategy, in 2016 CBD launched a series of innovative and first-to-market digital banking initiatives aimed at making banking simpler, efficient and more personalised. Some of these key initiatives included real time customer account sign up, both in-branch and online, a completely new customer experience for people moving to the UAE, as well as an advanced payments solutions to support the Smart Government and corporate clients.
“Customer convenience and centricity lies at the heart of all our initiatives. There is no bigger convenience than bringing the branch to the palm of our customer’s hand. Our research shows that digitally connected customers want a banking experience that is simple, smart and safe, whereby everything can be done via smartphone,” said Walter Lironi, General Manager Digital Transformation.