Dubai's CBD says to launch UAE's first digital-only bank

Commercial Bank of Dubai reveals plan for CBD NOW, set to start operations in early 2017
By Staff writer
Fri 02 Dec 2016 12:56 AM

Commercial Bank of Dubai (CBD) has announced its plan to launch CBD NOW, the country’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, the bank said in a statement.

Peter Baltussen, CEO of CBD, said: “The launch of CBD NOW 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 CBD, described CBD NOW as “a new era of innovation that will reshape customers’ relationships with their bank".

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.”

As part of its digital transformation strategy, CBD said it has launched a series of innovative and first-to-market digital banking initiatives this year aimed at making banking simpler, efficient and more personalised.

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.”

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Last Updated: Thu 26 Jan 2017 01:27 PM GST

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