BIBD wants to lead the digital banking revolution in Brunei with NEXGEN

by Haadi Bakar
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Paying in cash or credit cards will be a thing of the past as BIBD is going fully digital across its services in the coming months.

The Islamic bank yesterday launched NEXGEN, its new digital banking initiative that seek to enhance customers banking experience in the mobile age.

BIBD said it is is adopting breakthrough innovations such as artificial intelligence, augmented reality, data analytics and customer insights to create a futuristic banking concept that is mobile-led and customer centric.

The first wave of enhancements under this new initiative includes the opening of BIBD’s first digital branch at The Mall Gadong. Customers can get instant account openings, registration for BIBD NEXGEN Mobile and other banking services in a fully digitised, unmanned showroom.

BIBD Chairman YB Dato Hj Mohd Amin Liew (2nd L) tours the new BIBD NEXGEN digital branch at The Mall Gadong yesterday.

The first of its kind in Brunei, the branch showcases cutting-edge tech such as virtual reality, interactive screens and a concierge robot named Arif.

The BIBD Mobile app also got a big “NEXGEN” upgrade, with new features like biometric and facial log in, instant remittance services to countries across Asia and Europe and direct push messaging. In addition, the app’s eCredit feature now enables customers purchase gift cards electronically from¬†Google Play, iTunes, Amazon and more.

For the next wave of enhancements, BIBD is looking into making cashless transactions more seamless for retailers and small businesses using QR codes, biometric and facial authentication systems.

The new BIBD NEXGEN Mobile app now lets you unlock using biometric authentication.

Through this new initiative, the local bank aims to become a pioneer in the digital banking space in Brunei and mobilise the digital and cashless economy.

BIBD said it is looking to capture the growing digital economy. The bank has seen exponential growth in this space, having recorded over 12 million mobile transactions annually.

The NEXGEN initiative is also aimed at providing financial inclusion for the unbanked and the underserved segments.

Mubashar Kokhar, BIBD’s Managing Director and CEO, delivering his keynote speech prior to the launch of BIBD NEXGEN at RIzqun International Hotel yesterday. Mubashar said BIBD NEXGEN will bring forward the deployment of transformative innovations.

Inaugurating the launch of BIBD’s digital initiative at Rizqun International Hotel yesterday was the bank’s chairman Yang Berhormat Dato Seri Paduka Dr Awang Hj Mohd Amin Liew Abdullah.

“BIBD’s commitment towards creating a sustainable financial ecosystem, in line with AMBD’s Financial Sector Blueprint (2016-2025), is reinforced by BIBD NEXGEN. This signals that both Brunei and BIBD are prepared for the digital revolution and transformation into a more advanced digital economy,” said the chairman.

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