Hot on the heels of its blockchain Cheque Chain initiative (See IFN Fintech June issue), Emirates Islamic (EI) has rolled out a more robust mobile banking app boasting over 25 new services.
The Islamic bank incorporated a recently launched digital money transfer service — QuickRemit which enables remittance of funds to India in 60 seconds at zero processing fees as well as a host of other services including immediate opening of current accounts across 11 currencies, credit card management and cash on call, a feature allowing customers to transfer up to 80% of their card’s available limit to their bank account.
“The UAE is number one globally in terms of smartphone penetration and as the results from last year’s ISLAMIC BANKING INDEX by EMIRATES ISLAMIC™ indicated, some consumers in the country tend to perceive Islamic banks to lag behind conventional banks in terms of technology and innovation. We aim to bridge this perception gap by offering customers an innovative and dynamic banking experience,” explained Wasim Saifi, the deputy CEO of consumer banking and wealth management at EI.