CBD announces the launch of the UAE’s first digital-only bank

The Commercial Bank of Dubai (CBD) revealed its plan to unveil “CBD NOW” which will be the nation’s first digital-only bank targeting millennials and digitally connected customers.

The new bank (which will open its digital doors to customers in the early part of 2017) will strengthen CBD’s current position as a digital forerunner in the region.

“We are proud to launch the region’s first digital-only bank that will redefine the banking experience,” said Peter Baltussen, CEO of CBD.

“It is a next generation bank that offers a completely digital way of banking, one that combines customer experience with transparent and value-added services. It 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,” added Murray Sims, General Manager Personal Banking Group at CBD.

The bank will also soon be announcing CBD NOW “Co-founders” programme that will involve the customers that provide input to “building the bank of their dreams”. Customers will be able to assist during the piloting phase to influence product development and refinements before rolling out the brand to the public.

In 2016, CBD launched a series of digital banking initiatives that were aimed at making banking simpler, efficient and more personalised. Some of these new initiatives included “real time customer account sign up, both in-branch and on-line”, a completely new customer experience for people moving to the UAE, as well as an advanced payments solution to support Smart Government and corporate clients.