Dubai Bank has partnered with Rapid Communications to launch the bank’s mobile banking system M-SASA which allows clients to check their balances, request mini-statements, deposit and withdraw cash as well as transfer funds to other accounts within the bank via mobile devices.
The Banks’ Customers will also be able to track the progress of loan applications and pay bills using the service.
Speaking during the launch, Hassan Zubeidi, chairman, Dubai Bank reiterated that banks can no longer ignore the unbanked populations and stated that the only way to capture the masses is by moving banking to mobile.
“It is inevitable for banks to create services that will enable their customers and the unbanked population to access formal banking services with less fuss and time-wasting. M-Sasa aims to achieve just that, other than increasing our service penetration,” said Zubeidi at the launch.
Dubai Bank now joins other mid and top tier lenders in the country that have embraced mobile banking to enhance convenience for their customers in the increasingly competitive sector.
Rapid Communications will also maintain Dubai Bank’s mobile banking solution and to assist in growing the bank’s customers base with various innovative solutions from its Mobile Financial Services Platform.
The firm is currently working on a similar project for KUSCCO that will see SACCO transactions move to the mobile platform dubbed “KUSCCO Pay”.