QIB Introduces a New Digital H2H Payment Management Solution for its large Corporate Clients

Industry

Qatar Islamic Bank (QIB) has launched a new integrated Host-to-Host (H2H) Online Payment Management solution for its large corporate customers, in line with the Bank’s endeavours to automate and accelerate payment management experiences of its corporate clients with more ease, speed and safety.

With this new end-to-end digital payment solution, QIB is the first Islamic Bank that will allow corporate customers to submit their payments from their Enterprise Resource Planning (ERP) Systems automatically without any manual intervention at any time.

The new H2H Online Payment System offers an extra layer of security as all processed data is fully encrypted, H2H also allows corporate customers to keep track of their transactions, and to be up to date on the status of all their transactions 24/7 thru the Corporate Internet Banking.

This solution is ideal for large corporates who process large volume of payments regularly. H2H solution will reduce the business efforts by at least 50% when processing bulk payments. It is an encrypted system between the Corporates’ own ERP System and QIB Corporate Internet Banking to process payments without manual intervention; it will eliminate any possible human error and it will fast track the payment process to reach their respective payees.

Commenting on the introduction of the new solution, Mr. Tarek Fawzi, QIB’s Wholesale Banking Group General Manager said: “QIB is pleased to launch another fully-digital banking solution to allow its corporate customers to fulfil more of its banking needs in a fast and totally secure way. In addition to being another milestone towards the full digitization of our corporate banking products and solutions, our new digital H2H Payment Management Solution will certainly enhance the banking experience of all our large corporate customers. This is an ideal solution for them to manage their payments though an end-to-end automated channel and without any manual intervention, and therefore significantly reducing any margin of error or delay when processing payments of all sizes.”

In recent months, QIB has introduced major updates and features to its Corporate Internet Banking platform, and allowed its corporate customers to manage most of their banking needs and to perform over 90% of their local and international transactions digitally & remotely.

To offer its corporate customers a more convenient, trusted and safe way to fulfil their banking needs remotely, QIB has also launched the QIB Corporate App designed to address the financial requirements of its corporate and SME customers. The QIB Corporate App now enables corporate customers to review and approve transactions from inside and outside Qatar, as well as viewing their account balances and account summary. Moreover, corporate customers can apply for a financing digitally through the Corporate App, along with being able to view their relationship manager’s contact information and get in touch with them for any assistance via the App.

 

Source: Qatar Islamic Bank