Arabic for the word ‘to’,
ila promises to propel its users from where they are, “to” where they want to
be, enabling their long-and-short-term goals and aspirations though an
extremely personalised approach to banking and financial management, aided by cutting-edge
technology and sophisticated data analytics.
“At Bank ABC, we see change
as an opportunity – to become more relevant to our customers and to evolve and
to grow with them,” says Dr. Khaled Kawan, Group CEO of Bank ABC. “This is an
exciting time not just for us, but also for the country. Digital transformation
presents a huge opportunity to drive lasting positive change throughout the
Kingdom, something that Bank ABC is proud to be leading.”
As opposed to traditional
banks, ila has been conceived and built differently from the ground up, keeping
the customers and their rapidly evolving needs at its core: ila is agile,
connected and intuitive.
recognise that the customers of today are not the same as the customers of
tomorrow,” added Bank ABC Deputy Group CEO Mr. Sael Al Waary, who is
spearheading this strategic initiative.
so, it became our obsession and challenge to create a bank that mirrors their
fast, connected and always on the go lifestyles. We merged cutting edge
technology and human understanding to create a bank that is aligned with modern
ila is designed
to listen to our customers, study their lifestyles and priorities, and offer
them an intuitive banking support that is completely attuned with their financial
needs, something that is also deftly conveyed by our brand promise, ‘Banking
that reflects you’,” said Mr. Al Waary.
ila’s initial offering:
- Completely digital onboarding within minutes with just two forms of ID and a selfie.
- Users are issued a Virtual debit card as soon as they onboard for
immediate use for online transactions.
- Flexible funding options including
in-app integration with the country’s leading payment channel.
- Multiple foreign currency accounts that can be linked to a single card. Users can transfer funds between
these accounts without the worry of excessive fees.
- A current account that encourages people to save more by rewarding them
with a higher interest rate on higher balance, which will be calculated
daily and paid monthly.
- In-app full card control features, including set/reset pin, freeze/unfreeze a misplaced card, block and
instantly reorder in the case of lost or stolen cards
- Digital DNATM Customer Assistant Fatema, who will be available across social media to keep people and
community informed about ila and will be able to answer customer questions
through ila’s website 24/7.
“This is the beginning of the journey, and as we
gather more insights about our customers, ila will evolve as well, giving users
the chance to co-create future features,” says Mr. Al Waary. “With ila we aim
to offer lifestyle banking that caters to your everyday life needs from the
moment you wake up till you go to sleep.”
Driving positive social
ila has created quality jobs and
internships for young Bahraini professionals - over 80% of ila employees are
Bahraini and 84% are under 40 years old. Furthermore, the mobile-banking app is
positioned to promote financial inclusion in the MENA region, something that Bank
ABC is extremely passionate about, with the lowest required income threshold to
open an account in Bahrain.
The ila Bank app is available for download on Google Play
and Apple App store. Prospective customers will be able to join our waitlist
and be the first to gain early access and experience the newest bank on the
Bank ABC’s modernisation programme
ila is the latest in a series of
‘firsts’ that underlines Bank ABC’s strategy to “modernise, evolve and disrupt”
traditional banking within MENA and position Bahrain as a fintech hub for the
In September, the Bank introduced Fatema, MENA’s first
emotionally intelligent digital employee and world’s first AI avatar developed
using Digital DNATM. She is now ila’s first digital customer service
The Bank has also made significant strides in digitising
its wholesale operations to drive operational efficiencies and improve client
Additionally, in order to accelerate transformation
and foster a more agile work culture a Group Innovation Function was set up
earlier this year. The team’s dedicated space in the Head Office called ABC Labs
has been built to facilitate ideation and innovation across the Group.
The new ‘Face’ of Bank ABC
In the build up to its 40th anniversary in 2020, Bank ABC has also invested heavily across its functions and offices across the Group. Its headquarters in Manama have recently undergone a major structural overhaul, upgrading its facilities to keep pace with the Bank’s strategic direction.
To mark this transition, the Bank’s Board today unveiled a landmark sculpture, ’The Face’, conceived by world renown artist Victor Ekpuk, which will be a permanent part of the head office’s external façade. It is an embodiment of Bank ABC’s commitment to equality, diversity and the Bahraini community and represents the Kingdom’s eclectic and hospitable culture.
Commenting on the sculpture, Dr Kawan said: “Commemorating the launch of ila, and a new era for Bank ABC, ‘The Face’ is both a tribute to our home for over 40 years and a symbol of our faith in Bahrain’s strong talent who will see us advance our digital transformation agenda across the MENA region”
ila Bank is a digital, mobile only banking
entity in Bahrain powered by Bank ABC, MENA’s leading international bank. Aided
by Artificial Intelligence and data analytics, the intuitive app is designed to
appeal and serve a wide section of users ranging from millennials and older age
groups to blue collar workers. The app’s current offerings include completely
digital onboarding, instant virtual card for online transactions, physical
debit card, multi-currency account and a current account that offers interest
without a minimum balance or tenure. ila app is available for download on
Google Play and App stores. For more information visit https://www.ilabank.com and follow ila
Bank on social media @ilabankbhr.