Qatar: Best Digital Bank 2021
Commercial Bank of Qatar
Commercial Bank of Qatar’s customers probably barely noticed that all the bank’s branches were shut for a time in 2020: that’s a sign of the lender’s pre-pandemic success in convincing a critical mass to bank digitally.
Commercial Bank’s digital channels for payments, collections, trade and liquidity management were already thriving in 2019, but became the top way in Doha and elsewhere to take care of business in a rather seamless fashion.
Behind the scenes, CEO Joseph Abraham’s team moved quickly to step up informational channels to get users up to speed. A series of short, jargon-free videos were made available. Enrolment processes were fast-tracked, ATM functionality for accepting cheques and cash expanded and dedicated tracking apps were introduced for trade. Those who couldn’t go without in-person consulting could make appointments via the app.
Commercial Bank was Qatar’s first bank to offer new mobile app solutions for corporate clients. That triggered a deluge of digital payments routed through remote and secure channels, often resulting in higher balances and increased fee income.