Qatar Development Bank was named the ‘Best Digital Bank in Qatar’ at the 2024 Banking Excellence Awards by MEED research and media platform in recognition of its distinguished efforts in the field of digital transformation and technological innovation in the banking industry.

The award celebrates digital initiatives that transcend traditional online banking services, recognising QDB’s contribution to fostering Qatar’s entrepreneurship system by supporting and enhancing the digital transformation of SMEs and their adoption of the Fourth Industrial Revolution’s trends.

In line with its digital transformation strategy, QDB has served as a financial development partner over the years, providing comprehensive insights and innovative solutions to its clients.

The bank’s efforts gained further momentum since the launch of its digital portal in January 2023, offering integrated digital features and solutions to manage entrepreneurs’ accounts and disbursement processes and provide monthly business performance reports based on consolidated data.

The portal has bolstered customer satisfaction, with 92% of active users returning to the portal within one to five days, due to its ease of use and integration with government and financial institutions, which simplifies operations and reduces paper procedures, making it easier for businesses to access financing and manage their operations.

QDB has also implemented innovative solutions to improve internal processes for employees, such as automating repetitive manual processes and creating unified control panels that help in decision-making. The bank also provided digital trade financing services to streamline processes for companies.

Commenting on the award, Amna Jassim Sultan, senior manager, Digital and Customer Experience at QDB, said: “We take pride in this award, which reflects our continued efforts in adopting technology and promoting digital transformation across the bank’s programs and initiatives.

“At Qatar Development Bank, we are committed to supporting the government’s efforts in comprehensive digital transformation, whether through providing all our services electronically or by supporting and nurturing technology startups. For this reason, we consider digital innovation as the cornerstone of our strategy to drive economic diversification and enhance the business ecosystem.”

QDB’s achievements in digital banking services are integral to the bank’s broader strategy of bolstering the country’s economy, with initiatives ranging from the adoption of artificial intelligence and specialised services aimed at improving decision-making processes to empowering entrepreneurs in their digital transformation journey.

And 2024 marked the third consecutive year of achievements for QDB. In 2023, the bank was named as the Best Sustainable Bank in the Mena region, only a year after securing the ‘Excellence in Crises: Customer Services in the Middle East Award’ for 2022.

 

 

 

 

 

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