The UAE’s first digital-only bank, CBD Now, which targets millennial and digitally connected customers, will open its digital doors to customers in early 2017.
Commercial Bank of Dubai, which has launched the digital only bank, said CBD Now would take customer centricity to a new level by allowing co-founders to shape their bank.
The launch of CBD Now in November coincided with the UAE Innovation Week, which was designed in line with the vision of the UAE government to develop innovation and drive client happiness. CBD said the new digital bank would reinforce its position as a digital pioneer in the region.
Speaking at a Press briefing held to reveal the bank’s brand identity, Murray Sims, general manager, Personal Banking Group at Commercial Bank of Dubai, said customer convenience and centricity lies at the heart of all initiatives of CBD.
“Our clients’ needs are rapidly changing and they want to bank in the most convenient way. We seek to seamlessly integrate banking into our clients’ everyday lives so that banking becomes simpler, easier and personalised. CBD Now offers a portal to a world of specialized financial services.”
Walter Lironi, general manager, Digital Banking and Transformation, said, CBD Now is a new era of innovation that will reshape customers’ relationships with their bank.
“CBD Now brand identity is unique and different, designed to appeal to digitally connected people particularly the millennial. The new brand represents innovation and passion and reflects our philosophy to offer a completely digital way of banking built around customers.”
“The new visual identity symbolises a brand personality that aligns with our commitment to provide a tailored digital experience that is smart, simple and secure. CBD NOW will offer a series of specialised products, including current accounts, saving accounts, and credit cards. The brand celebrates the present by offering specialised products and added value lifestyle benefits to help customers better control their finances so they can love the moments in life,” said Lironi.
Stelios Michaelides, head of Digital Banking said the ‘co-founders’ program involves pioneering customers who provide input to building the bank of their dreams.
“We are building a bank that is different from the rest, and so we want our co-founders to get involved and
participate in the creation and development of the new Bank. The CBD Now co-founders will access a world of benefits and rewards that fit in with their lifestyles. The program will allow us to recognise our customers’ evolving needs and ensure they are financially healthier and happier.”
According to Michaelides, any UAE resident passionate about shaping the bank of the future can sign up for the co-founder programme through the digital bank’s website: CBDNOW.ae.
“Digital technology remains a key driver for the Bank’s customer-centric approach. We have designed CBD NOW using the best practices and latest technologies to offer our customers a simple, safe and secure banking experience. It is about leveraging world-class technology to deliver the future of banking today,” said Asem Fikree, director of Systems and Operations.
As part of its digital transformation strategy, CBD has 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 “movingtouae.ae”, as well as an advanced payments solutions to support corporate clients and Smart Government.