BizBahrain Magazine Sep-Oct 2019_compressed

Banking & Finance
Mobile Account
opening through
Face ID
Authentication
Bahrain Islamic Bank
(BisB) launched fullyfledged
digital branch which
enables customers to perform
a multitude of transactions
without the need for human
intervention, such as cardless
cash withdrawal, chequebook
printing, and instant card
issuance through the use of a
dedicated self-service kiosk,
in addition opening accounts,
applying for financing, or
record management, providing
the convenient option of
speaking a bank representative
through a video screen.
Recently bank celebrated
its 40th Year Anniversary
in ground breaking style
launching a tech-driven
exclusive event entitled #BisB,
where the Bank publicized its
latest announcement digitally,
broadcasting the news on
the Bank’s YouTube channel
where Bank revealed one
announcement after another
in tow, where Mahmood
Qannati, the Head of Corporate
Communications, revealed the
Bank’s new brand and logo, Ms.
Dalal Al Qais, General Manager
of Retail Banking revealed all of
the Bank’s latest innovations,
including Finance Top up in 4
minutes, the newly launched
abilities of the Bank’s mobile
application “BisB Digital”,
as well as the Cardless Cash
facilities available at any of
BisB’s ATM’s to name a few.
During the broadcast,
BisB’s CEO, Hassan Jarrar
promptly announced the
Bank’s latest digital milestone;
end-to-end account opening
online. In less than 6 minutes,
any new customer that wants
to open an account with BisB
can do so using real time face
verification. Simply put, they
only need to download the
BisB Digital app from their
smartphone, eliminating the
hassle of visiting a branch.
“This truly changes
everything. Because the
entire process, from A to
Z, will be fully automated.
Essentially, this means zero
paperwork, zero hassle, no
human interaction required,”
he added before hinting at the
Bank’s new brand ambassador
that would be in charge of
announcing all of the Bank’s
future innovations, the 25 year
old Bahraini Social Media
Influencer, Omar Farooq.
Bank ABC's
introduces world's
first Digital DNA
Human
Fatema'- a fully autonomous,
AI-driven Digital Human,
was introduced by Bank
ABC and Soul Machines,
as an integral part of the
Bank’s customer experience.
The ‘digital employee’
accumulates experiences,
learns, and responds to
customers individually through
experiential learning, adding
human-like intelligence to AI.
Fatema uses an AI-powered
Digital Brain to engage
personally with customers
and will work alongside Bank
ABC’s mobile-only digital bank
(to be launched by end of this
year) team to offer a multifaceted,
personalised customer
experience.
Fatema is the first
synthetic Digital Human
deployed by Soul Machines,
created using the company’s
Digital DNA technology,
which allows for the
production of unique, hyperrealistic
interfaces that drive
new ways to communicate,
collaborate and cooperate.
Fatema’s synthetic makeup
was produced from a digital
gene pool, which allowed Bank
ABC to choose specific traits
and attributes to develop the
optimal digital human for their
organisation.
Fatema embodies Bank
ABC’s endeavors into the
optimization of technology to
offer the most efficient and
engaging customer experience
by providing a stimulating
interface for communication
in a rapidly evolving digital
environment. Fatema’s
human-like appearance offers
naturalised and intuitive
interactions in direct contrast
to contemporary modes that
involve clicking, scrolling,
searching and typing, on the
part of the customer.
Fatema is designed to offer
a unique banking experience
to the mobile-only digital bank
customers and will appeal
to tech-savvy individuals
who have superior service
expectations. In her day-to-day
function, she will be involved
with social media to provide
the latest news and updates
about the Bank and will also
be available on specific digital
channels where customers will
be able to verbally interact with
her on various subjects.
BBK to introduce
a new electronic
remittance service
experience
BBK is introducing a new
technological solution in
the area of Money Transfer,
which is aimed at enabling
customers to enjoy the
latest advent in technology
through highly transparent,
faster and more secure
services. This new electronic
remittance service will soon
be introduced for all BBK
customers to perform cross
border payments to bank
accounts, mobile wallets
and cash-out locations with
ease and attractive pricing
through the MaxWallet App in
collaboration with CrediMax
and Mastercard International.
This endeavor amongst
other FinTech based
projects the bank is in
process of developing
and offering, falls in line
with the CBB’s initiative
towards the financial digital
transformation in the
Kingdom.
The service will be
enabled on the current
MaxWallet App under the
“Send Money” button. BBK
customers who are registered
via the MaxWallet App can
make payments/transfers
to more than 30 destination
countries with the relevant
receiving channel of their
choice.
It is worth mentioning that
this new e-remittance service
costs less than the traditional
international transfer
channels and is backed by the
Mastercard network, which
features efficient facilities
with enhanced security,
through a single connection.
MaxWallet is currently
available for both Android
and iOS devices on App Store
and Google Play and the new
Mastercard Send service will
soon be added to the wallet.
September-October 2019
35