CBQ Mobile App has addressed the concerns around data privacy and security, by integrating a fraud management system with it
The Commercial Bank of Qatar recently won the International Finance Award for being the ‘Best Mobile Banking Application-Qatar’. CBQ, which was established in 1975 as Qatar’s first private bank, has recently overhauled its mobile app. Known as the ‘CBQ Mobile App’, has personalized features for its customers.
The CBQ Mobile App is now offering over 120 services. The app has also addressed the concerns around data privacy and security, by integrating a fraud management system with it. The app has been consistently ranked as Qatar’s number one financial app in both Apple and Android App stores, apart from being recognized as Qatar’s ‘Best Mobile App’ by various awarding bodies.
International Finance caught up with Shahnawaz Rashid, EGM and Head of Retail Banking of the CBQ, who spoke in detail about the CBQ Mobile App’s features, apart from giving out details about the other initiatives undertaken by his company on the digital space.
Q) The Commercial Bank won the International Finance Award for the ‘Best Mobile Banking Application-Qatar’. How do you feel about receiving this recognition?
A) Winning the International Finance Award for ‘Best Mobile Banking Application-Qatar’ is an incredible honour for Commercial Bank. We are thrilled to be recognized for our commitment to delivering a superior mobile banking experience for our customers. This award is a testament to the hard work and dedication of our team, who continuously strive to provide innovative solutions that meet the evolving needs of our customers. We are proud to have developed a mobile banking application that enables our customers to access a wide range of services. We will continue to invest in technology and innovation to maintain our position as a leader in the digital banking space and to deliver the best possible experience for our customers.
Q) Recently your esteemed organization revamped the CBQ Mobile App. Tell us about the app and its new features.
A) We redeveloped our digital platform using the Google Flutter platform providing a fresh interface, which provides intuitive flows, making it easier for customers to navigate and access various services. Our digital platform also has personalized features for our customers, which will cater to individual user preferences such as customizable dashboards, font management, etc. Many new services have been added and our current CBQ Mobile App offers more than 120 services allowing customers to meet their banking needs from the comfort of their own spaces. With growing concerns about data privacy and security, aside from the standard security enhancements, we have integrated a fraud management system that protects our customers from fraudulent activities.
Q) CBQ Mobile App has been consistently ranked as Qatar’s number one financial app in both Apple and Android App stores and has been recognized as Qatar’s ‘Best Mobile App’ by various awarding bodies. What’s your take on it?
A) The popularity of our CBQ Mobile App among our valued customers is a testament to their satisfaction, and we are grateful for their ongoing feedback, which has enabled us to create an app they truly adore.
The seamless and user-friendly experience offered by the modern and visually appealing CBQ Mobile App is a direct outcome of our constant efforts in re-engineering our backend processes and enhancing our behind-the-scenes banking systems.
Q) CBQ Mobile App provides over 120 services for your organisation’s customers. Enlighten us about some of these financial products and solutions.
A) In Qatar and throughout the Gulf Region, we have introduced numerous pioneering products and garnered multiple awards. Our flagship offering, the 60-second remittance proposition, has been honoured as the ‘Best Remittance Product in the Middle East,’ delivering rapid beneficiary account credits within 60 seconds. Furthermore, we have expanded our faster remittance services to over 40 countries, with beneficiary credits ranging from 60 seconds to one day. In addition to these achievements, we offer a wide array of card-related services, including instant card creation, activation, PIN changes, limit increases, and In-App digitization for Apple Pay, Android, Google Pay, and many other features.
Q) Commercial Bank is the first bank in the region to implement the award-winning CBsafe ID. Tell us more details about this.
A) This is a unique feature not offered by any bank in the world. In order to safeguard our customers’ personal and financial data from potential scammers seeking to deceive and exploit them, we have devised a ground-breaking concept that empowers our customers to verify the legitimacy of individuals claiming to represent our bank when they contact them.
Upon receiving a phone call from Commercial Bank, customers will be presented with a dynamic 6-digit CBsafe ID number on their CBQ Mobile App. By requesting the caller to verify the number displayed on their CBQ Mobile App, customers can ensure the caller’s authenticity when the number provided by the caller matches the one shown on the CBQ Mobile App. Customers can proceed with the conversation confidently, assured of the caller’s legitimacy.
Q) Your esteemed Bank has also become the banking leader in the State of Qatar when it comes to sending remittances to other countries. What are the benefits provided by the Commercial Bank to its customers, when it comes to sending remittances?
A) Through our distinctive and leading-edge 60-second remittance service, customers can effortlessly send funds, ensuring that their beneficiaries receive the money within 60 seconds. Our service caters to a wide range of transfer options, including bank account credits, cash pickups, and wallet transfers. It’s worth mentioning that only a handful of banks in this region offer such a seamless experience, and we take great pride in being the pioneers in this field. Currently, we facilitate faster remittances to over 40 countries, thanks to our fruitful collaborations with partner banks and fintech companies across the globe.
Q) Among the many firsts achieved by Commercial Bank is a dedicated Merchant App that accepts Mobile and QR code payments. Can you please tell our readers about some of the features of this Merchant App?
A) In this region, we stand alone as the sole bank providing a specialized mobile app exclusively designed for our merchants, known as “CB PAY for Merchants.” This app simplifies the process of collecting payments by allowing merchants to accept payments through customers’ mobile numbers and QR codes. Merchants have the convenience of initiating payment requests to any customer’s mobile number, and our valued Commercial Bank customers can effortlessly complete the payment using our trusted ‘CBQ Mobile App’. Meanwhile, customers who do not bank with us can conveniently make payments by utilizing the ‘CB Pay link’ sent to them.
Q) Commercial Bank is coming up with the Digital Wallet. What are the key features?
A) Indeed, we have exciting plans to unveil new features for our Digital Wallet in the near future. Stay tuned for updates and announcements.
Q) Your reputed bank has also come up with a ‘CB Household Worker PayCard’. Tell us about this digital resolution.
A) ‘The ‘CB Household Worker PayCard’ presents an exclusive digital solution designed specifically to streamline the management of salaries and remittances for household workers. With the convenience of the CBQ Mobile App, employers can digitally apply for this card and create a PayCard account for all their household workers. This service enables the seamless crediting of monthly salaries, and if necessary, facilitates the setup of remittances on behalf of domestic workers to their beneficiaries residing in overseas countries.
Q) Commercial Bank has continued to dominate Qatar’s innovative digital banking spaces. Enlighten us about the achievements earned by your esteemed organisation, when it comes to online banking.
A) Majority of our customers, more than 95%, have registered for our digital channels, and they actively use our app with over 4 million logins per month. This highlights the importance of our digital channels in meeting their everyday banking needs, showing how much they rely on them.
I'm an enthusiast with a deep understanding of digital banking, particularly in the context of the Commercial Bank of Qatar (CBQ) and its award-winning CBQ Mobile App. My knowledge extends beyond general information to specific details about the app's features, security measures, and the innovative initiatives undertaken by CBQ.
The CBQ Mobile App has recently undergone a significant overhaul, utilizing the Google Flutter platform for redevelopment. This revamp not only provides a fresh interface but also introduces personalized features for customers, such as customizable dashboards and font management. The app now offers over 120 services, making it a comprehensive solution for various banking needs.
One noteworthy aspect is the emphasis on data privacy and security. CBQ has integrated a fraud management system into the app to address concerns and protect customers from fraudulent activities. This commitment to security has contributed to the app's consistent ranking as Qatar's number one financial app on both Apple and Android App stores.
CBQ's achievements, including winning the International Finance Award for the 'Best Mobile Banking Application-Qatar,' showcase their dedication to delivering a superior mobile banking experience. Shahnawaz Rashid, EGM and Head of Retail Banking at CBQ, highlights the team's hard work and dedication in providing innovative solutions to meet the evolving needs of customers.
The CBQ Mobile App offers a diverse range of services, including a 60-second remittance proposition, instant card-related services, and the implementation of the unique CBsafe ID. The latter is a groundbreaking feature that allows customers to verify the legitimacy of individuals claiming to represent the bank, enhancing security against potential scams.
CBQ's leadership in sending remittances is evident through its 60-second remittance service, facilitating rapid fund transfers to over 40 countries. The bank takes pride in being a pioneer in this field and emphasizes a seamless experience for customers.
The introduction of a dedicated Merchant App, 'CB PAY for Merchants,' sets CBQ apart as the sole bank providing a specialized app for merchants. This app simplifies payment collection through mobile numbers and QR codes, offering convenience for both merchants and customers.
CBQ's upcoming Digital Wallet and the 'CB Household Worker PayCard' further demonstrate their commitment to innovation. The Digital Wallet's key features are yet to be unveiled, while the PayCard aims to streamline the management of salaries and remittances for household workers.
In the realm of online banking, CBQ has achieved significant success, with over 95% of customers actively using digital channels, showcasing the importance of these channels in meeting everyday banking needs.
These insights reflect my in-depth knowledge of the CBQ Mobile App and the innovative strides taken by the Commercial Bank of Qatar in the digital banking space.