Following this announcement, the collaboration is set to incorporate a new feature to the QIB’s Mobile App, the Carbon Emission Tracker feature. The new tool is expected to reinforce the bank’s commitment in the process of developing the overall digital banking landscape, with the priority being set on the sustainability and environmental awareness.
Customers will be enabled to leverage the new feature in order to instill environment-friendly card spend behaviour. By promoting sustainable consumption habits through integrated climate insights, users will be allowed to track their transactions and receive guidance on the process of cultivating more responsible spending habits.
The new Carbon Emission Tracker feature will give QIB the possibility to calculate and account for its carbon footprint that is originating from its retail banking client card spends. Included in the set of features of the new tool are the environment-friendly card spending tips, comparation with previous month’s carbon emission values, tracking of cumulative monthly carbon footprint, as well as the option to refine specific transactions or customer profiles based on the individual lifestyles.
QIB had multiple partnerships and developments in the last couple of months, covering several different geographic areas around the world.
In November 2023, the Qatar Islamic Bank announced its decision to expand its Direct Remit service to the UK through a collaboration with Standard Chartered Bank. Following this partnership, customers and clients were enabled to use Direct Remit in order to benefit from real-time money transfers to the UK while using the QIB application. After logging in, selecting the destination, and adding the recipient details, users were given the possibility to make instant transactions with competitive exchange rates to the beneficiary’s bank account, in a secure and efficient manner.
According to the press release published at the time, the submitted transaction could be tracked by the customers at any time and from everywhere, while the users were also able to receive instant updates on the status of their transactions via SMS. In addition, the procedure of incorporating businesses and merchants in the region of UK into their Direct Remit services via the QIB mobile application focused on the company’s commitment to delivering a secure, efficient, and comprehensive banking experience for all of its users.
Earlier in October 2023, Qatar Islamic Bank signed a Memorandum of Understanding (MoU) with FynPay in order to expand the bank’s digital channels and local footprint. The financial institutions aimed to optimise customer experience and the overall operational efficiency in the nation’s financial sector. The aim was to expand QIB’s digital products while offering secure banking services to individuals and institutions alike. The strategic deal also focused on improving client experience in the mobile and online financial region, as well as developing the bank’s operational efficiency through fintech advancements.
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