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Commercial Bank awarded Best Digital Deposit Service at The International Excellence in Retail Financial Services Awards 2020
- Commercial Bank introduced a new mobile banking service to help customers save and manage their finances
- The bank improved customer experience by providing a digital tool for saving money, with an easy setup of an amount sent automatically each month to another interest-bearing account
- The bank succeeded in saving funds directed to a low-cost deposit
Singapore, 5 June 2020— Commercial Bank received Best Digital Deposit Service at The Asian Banker International Excellence in Retail Financial Awards 2020.
Commercial Bank introduced a new mobile banking service to help customers save and manage their finances
Commercial Bank launched a new service in their mobile banking application that allows customers to set financial goals, helping them save and manage their finances. This service aims to meet the basic needs of customers to save money and most importantly, to build the habit of saving, whether for the customer’s first house, kids’ education, wedding or anything with at least a minimum savings goal amount of $549.3 (QAR 2,000).
The bank improved customer experience by providing a digital tool for saving money, with an easy setup of an amount sent automatically each month to another interestbearing account
Commercial Bank enhanced customer experience by providing a new digital tool for achieving savings goals equipped with an easy setup of a monthly amount that gets transferred to another interest-bearing account. The bank has so far helped achieve 450 active goals amounting to a total of $3.3 million (QAR 12 million).
The bank succeeded in saving funds directed to a low-cost deposit
Commercial Bank saved funds through this service. These savings are directed to a low-cost deposit account, saving the bank the cost of keeping funds on a lower rate compared to a highrate time deposit account for a similar tenure.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi
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