By­b­los Goes Be­yond Branch Bank­ing

Ekaruna - - Special Report -

When you think of the word bank­ing, what’s the first thing that comes to mind? Grand build­ings filled with peo­ple wait­ing in line by the teller’s win­dow. Or at least, that’s what it was like for past gen­er­a­tions. But to­day, in our fast paced dig­i­tal age, the con­cept of bank­ing has been rede­fined. Bank­ing in our mod­ern age is now an any­time, any­where fi­nan­cial trans­ac­tion fu­elled by online tech­nol­ogy and mo­bile apps. Speak­ing of which, have you heard of By­b­los Bank’s Azka Bank­ing? If not, al­low me to in­tro­duce this in­no­va­tive new plat­form that al­lows the use of se­cure mo­bile ap­pli­ca­tions, smart ATMs and in­ter­net bank­ing so­lu­tions for op­ti­mal client con­ve­nience and sat­is­fac­tion, and eas­ier and much faster trans­ac­tions. “These are the very fea­tures of our Azka Bank­ing that en­able our cus­tomers to take full ad­van­tage of the pow­ers of tech­nol­ogy, in­clud­ing tech­no­log­i­cally ad­vanced mo­bile ap­pli­ca­tions and ATMs, so that their bank­ing needs are met more ef­fi­ciently and their lifestyle be­comes smoother,”says Mr. Gil­bert Zouein, AGM and Head of Group Prod­ucts, Seg­ments and Mar­ket­ing.

The By­b­los Bank Mo­bile Bank­ing Ap­pli­ca­tion, for in­stance, al­lows clients to hold their bank ac­counts in the palm of their hands, chang­ing the way they take care of their fi­nan­cial needs, and the way By­b­los Bank’s staff do busi­ness. Fancy man­ag­ing your pri­vate and joint ac­counts at the tap of a screen? Then read on. As well as be­ing able to check ac­count bal­ances, cus­tomers can also ben­e­fit from set­tling loan and card pay­ments, trans­fer money from one ac­count to another, and browse all types of ac­counts, cards, loans, and Ban­cas­sur­ance prod­ucts the Bank has to of­fer. App users can also lo­cate branches and ATMs, re­quest cheque books, and ver­ify the sta­tus of their mileage ac­cu­mu­lated through the Bank’s Akram Pro­gram, Le­banon’s most gen­er­ous card loy­alty scheme.

The By­b­los Bank Mo­bile Bank­ing Ap­pli­ca­tion has al­ready been down­loaded by more than 52,000 users and has been ranked among the firsts in Ap­ple’s ‘Fi­nance’ cat­e­gory of the Le­banese App Store. Based on By­b­los Bank’s data anal­y­sis, it was re­vealed that the ma­jor­ity of peo­ple us­ing the Bank’s mo­bile ap­pli­ca­tions are aged be­tween 20 and 45 years old. “This in­di­ca­tor shows the at­trac­tive­ness of By­b­los Bank’s Azka Bank­ing, es­pe­cially from the younger gen­er­a­tion, that is to say those who are 45 years old or less,” says Mr. Zouein. As the Bank is keep­ing up with the latest trans­for­ma­tions in mo­bile pay­ment so­lu­tions, one of the most sig­nif­i­cant fea­tures that it will make use of in the years to come is the Near Field Com­mu­ni­ca­tion (NFC) tech­nol­ogy – al­ready avail­able on the new­est smart­phones – and adopted by Visa and MasterCard through Host Card Em­u­la­tion (HCE) to al­low cus­tomers to pay through their phones in­stead of us­ing plas­tic debit and credit cards.

The bank’s first ever cash and cheque de­posit ATM was in­stalled back in 2011. The bank now has 60 smart ATMs to its name, and this is all down to the in­creas­ing num­bers of cus­tomers choos­ing the new ser­vice for eas­ier, sim­pler and faster trans­ac­tions. The con­ve­nient ser­vice of­fered by By­b­los Bank means that its cus­tomers can de­posit cash and cheques 24 hours a day, 7 days a week. They also ben­e­fit from real-world ad­van­tages such as zero com­mis­sions, pref­er­en­tial value dates (one-day value) on cash de­posits, and the abil­ity to de­posit up to 30 cheques per

trans­ac­tion with no limit on the num­ber of trans­ac­tions in a sin­gle day. Cor­po­rate clients, on the other hand, can use their com­pany de­posit cards to de­posit cash and cheques straight into their com­pany’s cur­rent ac­count.

By­b­los Bank, with the in­tro­duc­tion of these high-tech prod­ucts, recog­nises that banks will no longer dic­tate the rules of en­gage­ment and that the client will be­come a full part­ner. How so? Al­low me to ex­plain fur­ther. The bank is en­hanc­ing and strength­en­ing the re­la­tion­ships with its cus­tomers by in­ter­act­ing with them on a more tar­geted ba­sis – mean­ing that the bank is start­ing to of­fer be­spoke so­lu­tions and ser­vices depend­ing on the needs of each cus­tomer. “The in­tro­duc­tion of smart be­spoke bank­ing ser­vices fo­cuses on trans­form­ing branches into hubs for banker and client meet­ings to jointly ad­dress in-depth ad­vi­sory needs,” adds Mr. Zouein.

Mr. Gil­bert Zouein AGM and head of group prod­ucts, seg­ments and mar­ket­ing

By­b­los Bank Smart ATM

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