Arab Banking Corporation (Bank ABC), part of the FinTech Alliance community, has launched a fully digital bank.
The mobile-only platform, which will be a sub brand of ABC, is called ila Bank.
It will launch in Bahrain first before rolling out across the MENA region.
The platform aims to use technology to provide a personalised experience.
What does this mean?
The word ‘ila’ means ‘to’, and the digital bank say it will help users get to where they want to be. It will use data analytics to understand the aim of the user and provide appropriate service. The bank’s Group CEO has commented on the importance of staying relevant and evolving with its customers.