QIB Enhances its Corporate Internet Banking Capabilities

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.

In addition to a highly secured passageway for the customers to conveniently manage most of their daily banking needs without the need to visit a branch, the latest update includes several new innovative features that are easy to use. By utilizing QIB’s Corporate Internet Banking platform, QIB’s corporate customers can benefit from an overall reduction in banking administrative and procedure time required to complete banking tasks, since the platform provides an instant, comprehensive and convenient experience.

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.

To continue making the platform convenient and safe, the updated portal provides Corporate Internet Banking users with email notifications for every transaction initiated over the channel.

Mr 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.”

In addition to the new enhancements, the portal allows businesses to have full digital control over their accounts and includes many features such as User Access Control, Account Management, Beneficiary Management, Payments and Transfers, Credit Card Management, Utility Bills Payment, General Service Request and Printing of their account statement.

It also has a new multi-level transaction matrix to increase security whereas client may appoint restricted roles for different users by appointing a maker for a transaction, someone to review the payment details checker and an authorizer that approves the payment approver. The new portal resides on an omnichannel banking platform, whereas now all banking platforms are linked to one central unit. Corporate customers that wish to register for QIB’s corporate internet banking should contact their relationship manager or submit a request online or visit QIB’s Corporate Branch.

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.

Source: Qatar Islamic Bank