Emirates Islamic Bank wins the UAE's most innovative Islamic bank award this year. It launched a range of innovative products and services across several business segments.
The bank launched the EI+ mobile banking application, featuring 75 new banking services for retail customers. Most prominent among these was a digital wealth feature that allows customers to open investment accounts and trade in Shariah-compliant equities.
The bank also used advanced analytics to develop new foreign-exchange use cases, strengthening its cross-selling abilities. It also invested Dh15 million ($4 million) to establish employee banking proposition units, which helped to attract salary transfer customers in personal and priority banking.
As part of a cost-effectiveness and efficiency drive, the lender has also introduced digital knowledge, internal knowledge-management and customer-care portals. It has added more than 70 straight-through processing services for call-centre and branch staff.
The focus was again on digital transformation for business clients, with the bank launching new platforms for small and medium-sized enterprise and trade customers. Both allow for faster, more secure Shariah-compliant services.
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