Bloomberg/Phil Weymouthby Kudakwashe Muzoriwa
Bank ABC has launched ‘ila Bank’ in Bahrain, foraying into the digital and mobile-only banking space, with the aim to take the digital bank across the MENA region.
The lender stated that as opposed to traditional banks, ‘ila’ has been conceived and built differently from the ground up, keeping the customers and their rapidly evolving needs at its core.
Sael Al Waary, the Deputy Group CEO of Bank ABC, said, “ila is designed to listen to our customers, study their lifestyles and priorities, and offer them an intuitive banking support that is completely attuned with their financial needs, something that is also deftly conveyed by our brand promise, ‘banking that reflects you.”
ila’s initial offerings including digital onboarding, virtual debit as well as flexible funding, multiple foreign currency accounts and digital DNA customer assistant Fatema.
The bank introduced Fatema, MENA’s first emotionally intelligent digital employee and world’s first AI avatar developed using digital DNA in September 2019.
Similarly, the bank has also made significant strides in digitising its wholesale operations to drive operational efficiencies and improve client service.