Al Baraka Islamic Bank in Bahrain has procured digital banking services from Layer, a digital banking platform provider, to aid in the boost of digital transformation and facilitate superior access to a broader range of financial services for its consumers.
Al Baraka Islamic Bank collaborates with Layer
Layer is a digital transformation portal that allows large fiscal institutions to swiftly transform their consumer and backend digital practices.
This new-fangled collaboration will witness the Dublin-based Layer including an excess of 80,000 consumers on its portal. Via this new-fangled collaboration with Layer, Al Baraka Islamic Bank focuses on meeting the consumers’ sprouting banking needs by delivering easy access to seamless banking transactions and an array of products and services devoid of any physical visit to a bank’s branch.
Within 7 days of its preliminary release, the Al Baraka Islamic Bank application emerged as one of the most downloaded applications in the Bahrain Apple Application store. As the quarterly-phase rollout continued, the application will be inclusive of digital consumer onboarding, easy and fast transfer and payment facilities, alongside cards and account managing. Additionally, Layer and Al Baraka Islamic Bank’s digital application will also be inclusive of qualitative features like homepage customization, payment shortcuts, multiple account login, and several other features.
Layer’s patented portal lies on the foundation of traditional core systems to allow banks to deliver to consumers a mix of conventional and neo-bank capacities. Al Baraka Islamic Bank has instigated those services available on the Layer portal to deliver end-to-end digitalization of its banking services, transported via a new-fangled website and mobile application.
Layer’s goal is to enhance financial inclusion and digital renovation processes throughout the globe via noteworthy client relationships. The digital banking portal facilitates banking services to more than 25 million customers.
Smartphone utilization amongst customers in the Middle East has been maturing steadily. The number of smartphone operators in the area almost doubled, from 86 million in 2014 to an appraised 174 million in 2019. Notwithstanding this essential growth curve, further research unveils that up to 48% of the Arab youth has never utilized digital banking systems.
