Qatar Islamic Bank (QIB) has rolled out a new integrated host-to-host (H2H) online payment management solution for large corporate customers ensuring an added layer of security along with other benefits.
The new end-to-end digital payment solution will position QIB as the first Islamic lender to allow corporate customers to submit their payments from their enterprise resource planning (ERP) systems automatically without any manual intervention at any time.
The new service allows corporate customers to keep track of their transactions and to be up to date on the status of activities made through corporate internet banking. The solution is perfect for large corporates who make huge volumes of payments regularly. H2H solution will reduce the business efforts by at least 50 percent when processing bulk payments.
The launch comes following the bank’s vision to automate and speed up the payment management experiences of its corporate clients with more ease and safety. The encrypted system between the corporates’ ERP and QIB Corporate Internet Banking will eliminate any possible human error and it will fast track the payment process to reach their respective payees.
“In addition to being another milestone towards the full digitization of our corporate banking products and solutions, our new digital H2H Payment Management Solution will certainly enhance the banking experience of all our large corporate customers. This is an ideal solution for them to manage their payments through an end-to-end automated channel and without any manual intervention.”
Recently, QIB has introduced major features to its corporate internet banking platform enabling its customers to manage most of their banking needs and to perform over 90 percent of their local and international transactions digitally and remotely.
QIB has also launched the QIB corporate app, designed to address the financial requirements of its corporate and SME customers. The corporate app now allows customers to review and approve transactions from inside and outside Qatar, as well as to view their account balances and account summary.
Further, the corporate customers can apply for financing digitally through the app, along with being able to contact their relationship manager’s for any assistance through the app.