Qatar Islamic Bank (QIB) has rolled out another digital product targeting its corporate clients as it works toward fully digitizing its suite of corporate banking solutions.
The new product is a host-to-host (H2H) online payment solution integrated specifically for its large corporate customers in a bid to automate its processes while accelerating payment management services in a safer environment.
The Islamic bank claims that it is the first Shariah bank in the State to allow corporate customers to submit their payments from their enterprise resource planning systems automatically.
“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,” explained the bank.
QIB claims that the solution will at least halve business efforts when processing bulk payments, hence an ideal solution for large corporate processing high volumes of payments regularly.
“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,” commented Tarek Fawzi, QIB’s wholesale banking group general manager.
The H2H solution follows significant updates and features to its Corporate Internet Banking platform which allowed its business banking customers to manage and perform a majority of their local and international banking needs digitally. This is in addition to the corporate banking app it rolled out which also enables customers to apply for financing.