Commercial Bank of Dubai to Target Tech-Savvy Citizens with Digital-Only Bank

Btchain

The Commercial Bank of Dubai (CBD) is removing prepared to launch a mobile app-based digital bank for a clients in a bid to change a attribute between a bank and a customers, according to a news from Computer Weekly.

Expected to launch early subsequent year, a digital bank will be famous as CBD NOW, that is dictated to aim Millennials, a era of people who tend to lift out their day-to-day activities around their phones.

According to a British Banking Association [PDF] report, in 2015 there were 11 million logins to banking apps any day compared to 4.3 million logins to Internet banking by bank websites. The series of mobile banking apps in 2015 rose by 25 percent to 13.5 million from 2014 figures.

Murray Sims, ubiquitous manager personal banking organisation during CBD, said:

CBD NOW will redefine what a bank should be. It is built around business and offers a singular knowledge that is simple, intelligent and safe, whereby all can be finished by smartphone.

Digital-Only Banks

The Commercial Bank of Dubai, however, is not


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