Manama, Bahrain: Continuing to make a mark in the digital banking domain, Bahrain’s fastest growing mobile-only bank, ila Bank has been declared the ‘Best Consumer Digital Bank’ in Bahrain for the second consecutive year, in the Global Finance ‘World’s Best Consumer Digital Bank Awards’ in the Middle East in 2022. The Bank has the distinction of winning all the sub-categories in Bahrain, namely Best User Experience (UX) Design, Best Mobile Banking App, Best in Social Media Marketing & Services and the Most Innovative Digital Bank.
Introduced in 2019, ila Bank has revolutionised consumer banking in Bahrain with its intuitive banking model that is centered around its customers and their ever-evolving lifestyles. The digital, mobile-only bank has quickly gained substantial market share for its innovative offering, user-friendly app design, and ease of use and access, thereby disrupting traditional retail banking methods.
Commenting on this remarkable achievement, ila Bank’s CEO, Mohamed Al Maraj said, “ila’s stellar performance at the Global Finance World’s Best Consumer Digital Bank Awards is testament to our customer-driven DNA and deep insight into Bahrain’s economic ecosystem, that enabled us to specifically cater to the local population. This led to a monumental shift in the way consumers view and connect with their bank. “
“I sincerely thank Global Finance for recognising our innovative approach to banking and ila’s remarkable team and partners for their relentless commitment to enabling our vision of offering – banking that reflects you.”
ila Bank stood out for its successful strategy to attract new customers and convert them to use its digital solutions, its breadth of product offerings, superior in-app functionality and evidence of tangible benefits gained from its engaging social media initiatives.
“Not only have we introduced a new way of banking, but also facilitated financial inclusion in the country. Winning these awards reinforces our collective purpose of providing a banking experience that is truly unique and bolsters our plans to soon take this disruption beyond Bahrain, across the region,” Mohamed added.
The Global Finance Digital Banking awards platform, a principal authority on the international digital finance landscape, is now in its 23rd year of honouring the top banking institutions the world over, across various categories. This year’s entries underwent rigorous evaluation by a world-class panel of judges from Infosys, a global leader in consulting, technology and outsourcing, with the final selections being made by the editors of Global Finance.
ila Bank’s consistent success is a result of carefully listening to customers and providing secure, innovative solutions to their banking needs. From its seamless account opening process, that takes a couple of minutes on one’s mobile phone, to multiple currency accounts and innovative digital saving tools, like ‘Hassala’, an automated saving pot, and ‘Jamiyah’, a collaborative saving solution inspired by a regional tradition, available on the ila app, and frequent app releases, ila delivers on all grounds.
ila’s Al Kanz, the recently introduced prize account, enables customers to save for the future, with chances to win transformative cash prizes, totalling US$1.5 million. The mobile-only Bank’s new credit and debit card campaigns have been well-received, enabling customers to earn back their foreign spends and win a luxurious trip to the Maldives respectively.