Bank ABC launches digital bank in Bahrain

The digital bank was launched at an event in Bahrain on Sunday. (Supplied)

Bank ABC launched on Sunday “ila,” a new Bahraini digital, mobile-only banking entity.

The ila app offers an entirely digital onboarding service, an instant virtual card for online transactions, and multi-currency and standard current accounts, alongside a physical debit card.

In September, Bank ABC launched Fatema, an artificial intelligence (AI) powered digital employee with an avatar. Fatema will provide customer service to ila users and answer questions through the service’s website.

ila, the Arabic word for “to,” is aimed at a wide range of users, from millennials to older age groups, and blue collar workers, Bank ABC said in a statement.

ila joins several digital banks launched in the region in recent years. The retail banking arm of Gulf International Bank, known as “meem,” offers services to Saudi Arabian users. The UAE is also home to several digital banks including Emirates NBD’s Liv., Commercial Bank of Dubai’s CBD NOW, and Mashreq’s Mashreq Neo.

The ila app is available on the Google Play and Apple App stores.

Last Update: Wednesday, 20 May 2020 KSA 10:01 - GMT 07:01