CBD announces the launch of UAE’s first digital-only bank "CBD NOW”

Commercial Bank of Dubai announces the launch of UAE’s first digital-only bank

"CBD NOW” will re-define the banking experience

DUBAI, 27 Nov, 2016: Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, announced its plan to launch ”CBD NOW”, the nation’s first digital-only bank targeting millennials and digitally connected customers. The new bank, which will open its digital doors to customers in early 2017, will reinforce CBD’s position as a digital pioneer in the region.

Peter Baltussen, CEO of Commercial Bank of Dubai stated: “The launch of CBD NOW during 2016 UAE’s innovation week is a timely example of how CBD supports the vision of the UAE to develop innovation and drive client happiness. We are proud to launch the region’s first digital-only bank that will redefine the banking experience.”

Murray Sims, General Manager Personal Banking Group at Commercial Bank of Dubai described CBD NOW as “a new era of innovation that will reshape customers’ relationships with their bank.  It is a next generation bank that offers a completely digital way of banking, one that combines a seamless customer experience with transparent and value-added services.

He added: “CBD NOW will redefine what a bank should be. It is built around customers and offers an entirely unique experience that is simple, smart and safe, whereby everything can be done via smartphone. We believe that CBD NOW will be the 21st century choice for customers who want a bank that’s not just unique and different, but more importantly, better.”

Sims continued: “We will soon announce CBD NOW “Co-founders” program that involves the pioneering customers who provide input to building the bank of their dreams. We believe our customers have a lot of know-how when it comes to banking services.  Customers can assist during the piloting phase to influence product development and refinements before rolling out the brand to the public.”

Commenting on the announcement, Walter Lironi, General Manager Digital Transformation, said: “Customer convenience and centricity lies at the heart of all our initiatives. There is no bigger convenience than bringing the branch to the palm of our customer’s hand. Our research shows that digitally connected customers want a banking experience that is simple, smart and safe, whereby everything can be done via smartphone. As a bank committed to digital technology and innovation, CBD has answered these demands through the launch of CBD NOW.”

He added: “We are delighted to bring the first digital-only bank to the region. Our proposition will allow customers to completely change the way they manage their finances using technology to serve all their banking needs. It is about leveraging technology to create a unique banking experience powered by our customers.”  

As part of the digital transformation strategy, in 2016 CBD launched a series of innovative and first-to-market digital banking initiatives aimed at making banking simpler, efficient and more personalized. Some of these key initiatives included “real time customer account sign up, both in-branch and on-line”, a completely new customer experience for people moving to the UAE “movingtouae.ae”, as well as an advanced payments solutions to support Smart Government and our corporate clients. 

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