The Bahrain-based open banking platform ila Bank plans to enhance its customer’s overall banking experience with five new features in a contactless environment.
The bank has designed the new features after taking customer feedback at various digital touchpoints and customer insights gained through its agile banking model, powered by AI and data analytics.
The bank has also launched a further simplified digital onboarding process through which customers can open an account within minutes using an ID and a selfie by leveraging the national eKYC platform, an identity authentication platform operated under the supervision of the Central Bank of Bahrain.
Mohamed Al Maraj, Chief Executive Officer, ila Bank, said, “ila’s app upgrade reflects our commitment to continuously customize our offering to transform the overall banking experience in Bahrain and build on the progressive and collaborative fintech ecosystem.”
ila’s new release also includes a ‘long press’ feature enabling customers to access critical features by touching and holding on to the app that further eases the saving process and drives positive behavioral change. It permits two shares for each user in a collaborative digital savings tool inspired by a longstanding regional tradition.
Nada Tarada, Head of Business and Customer at ila Bank, added, “ila’s latest app release is driven by customer needs and feedback. It reflects our ongoing mission to design banking around their lives and enable their day-to-day and long-term experiences through effortless, frictionless, and seamless banking solutions.
Since its inception, the bank has announced a range of app enhancements. The two widely adopted community-inspired savings products –“Hassala” and “Jamiyah” (an in-app donations feature and an interest-bearing checking account encouraging the lowest income threshold to open an account) together accelerates the rate of financial inclusion in the Kingdom of Bahrain.