Qatar Islamic Bank (QIB) has updated its corporate Internet banking portal to address and specifically cater to the ever-changing banking needs for large, medium and small corporate customers.
In addition to a highly secured passageway for the customers to conveniently manage most of their daily banking needs without the need to visit a branch, the latest update includes several new innovative features that are easy to use.
By utilising QIB’s corporate Internet banking platform, QIB’s corporate customers can benefit from an overall reduction in banking administrative and procedure time required in completing banking tasks, since the platform provides an instant, comprehensive and convenient experience.
The updated portal allows QIB’s corporate customers to have full digital control over their accounts through several new functionality enhancements. One of which is SWEEP — liquidity management, which allows customers to set up instructions on the online portal to make end of day sweeping between accounts.
With the addition of the new Auto Cover — liquidity management function, customers can use the online portal to link two accounts, in order to make payments from one account and cover funds from another account instead of issuing physical cheques. This will enable customers to manage their liquidity and maximise profit against account balance.
Through the Positive Pay cheque management function, customers can upload cheque details online, once the cheques are issued to the beneficiaries, in order to prevent fraudulent activity. A new postdated cheque (PDC) reporting tool allows customers to check the status of their PDC online without the need to put a request to the bank, visit or call the bank.
It also has a new multi-level transaction matrix to increase security, whereas client may appoint restricted roles for different users by appointing a maker for a transaction, someone to review the payment details “checker” and an authoriser that approves the payment “approver”.
“The enhancement of the corporate Internet banking platform provides significant value addition to QIB’s corporate customers, by reducing the administrative time that it takes to finish their banking procedures and eliminating the need to visit a branch,” said Tarek Fawzi, General Manager, Wholesale Banking Group.
This initiative comes in line with the bank’s digital transformation strategy to provide customers with an easy, secure and convenient banking experience through their digital channels.
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