ila News

Manama, Bahrain: ila Bank brought home seven prestigious titles by Global Finance’s World’s Best Consumer Digital Bank Awards, including the leading title ‘Best Consumer Digital Bank in Bahrain’ for the fourth consecutive year and the newly introduced regional title ‘Best Opening Banking APIs in the Middle East.’ This phenomenal performance year-after-year exemplifies ila’s position as a digital transformation leader and trailblazer that has set new standards in the retail banking space in the region.

Additionally, ila won the country-level titles ‘Best in Innovation’, ‘Best in Transformation’, ‘Best User Experience (UX) Design’, ‘Best in Social Media & Marketing’, and ‘Best in Open Banking’ in Bahrain. The awards come on the back of numerous customer-centric innovations, user experience enhancements and active community engagement programmes that enabled the bank to further enrich the consumer banking experience.

This year’s winners were selected following a comprehensive evaluation of the contenders’ digital strategy, product breadth, customer acquisition and growth rate, success in increasing adoption of digital banking solutions in the market, and evidence of tangible benefits generated from digital offerings as well as platform design and functionality. ila excelled across all parameters for offering an unrivalled agile, innovative, and intuitive banking model and seamless end-to-end digital experience journey.

Commenting on ila’s remarkable wins, Mohamed Al Maraj, CEO of ila Bank said: “We are extremely proud to have created a unique banking experience in the region and seek to continuously raise the bar to deliver on our promise of ‘banking that reflects you.’ This consistent recognition attests to our steadfast commitment of not settling with the status quo, and improving upon our own selves to offer accessible, inclusive, and innovative solutions that enable our customers’ financial aspirations and lifestyle needs.”

“I take this opportunity to thank our visionary leadership for bridging the gap in the market for an intuitive banking offering, our dedicated team for upholding our promise to customers, and Global Finance for celebrating our disruptive digital innovation agenda and achievements for the past four years.”

“The rapid advancements in fintech, the rise of digital currencies, and the increasing importance of cybersecurity are continually redefining the benchmarks for exceptional digital banking services,” said Joseph Giarraputo, founder, and editorial director of Global Finance. “Global Finance’s Best Digital Bank Awards celebrate the financial institutions that are leading the way with innovative digital solutions and setting new standards in the industry.”

The awards follow a number of innovative solutions launched by ila Bank this year including Easy Payment Plan offered through ila’s Blue and Switch Credit Cards, effortless Government Securities investment solution, periodic payouts on Fixed Deposit and Wakala accounts, in addition to personalized rewards and lifestyle related campaigns that further elevate the consumer banking experience.

Furthermore, the awards build on notable recognitions the digital mobile bank received earlier this year, namely ‘Best Digital Bank in Bahrain’ by MEED’s MENA Banking Excellence Awards and ‘Fastest Growing Digital Bank in the Middle East’ by Mastercard.