DOHA: As part of its strategy to continuously enhance its digital platforms, Qatar Islamic Bank (QIB) has recently updated its Corporate Internet Banking portal. The online portal was updated to address and specifically cater to the ever-changing banking needs for large, medium and small Corporate customers.
The updated portal allows QIB’s corporate customers to have full digital control over their accounts through several new functionality enhancements. One of which is SWEEP – Liquidity Management, which allows customers to set up instructions on the online portal to make end of day sweeping between accounts. Sweeping can be set for full amount transfer or just a certain amount. With this feature, customers no longer have to send manual instructions to the Bank to set up SWEEP, instead, they can simply do it online.
With the addition of the new Auto Cover – Liquidity Management function, customers no longer have to send manual instruction to the Bank to set up Auto Cover. Instead they can just use the online portal to link two accounts, in order to make payments from one account and cover funds from another account instead of issuing physical cheques. This will enable customers to manage their liquidity and maximize profit against account balance.
Under another new feature, the Positive Pay cheque management function, customers can now upload cheque details online, once the cheques are issued to the beneficiaries, to prevent fraudulent activity. A new Post Dated Cheque (PDC) reporting tool allows customers to check the status of their PDC online without the need to put a request to the Bank, visit or call the Bank.
Tarek Fawzi, General Manager, Wholesale Banking Group, further elaborated “The enhancement of the Corporate Internet Banking platform provides significant value addition to QIB’s corporate customers, by reducing the administrative time that it takes to finish their banking procedures and eliminating the need to visit a branch. Our team is dedicated to continuously improving the functions and capabilities of our Corporate Internet Banking service, to deliver superior and innovative banking solutions to our customers through all our digital channels.”
This initiative comes in line with the Bank’s digital transformation strategy to provide customers with an easy, secure and convenient banking experience through their digital channels. The new Corporate Internet Banking user interface was designed to empower large, medium and small enterprises with the necessary tools needed to manage their day to day banking needs in a timely and efficient manner.
