Qatar Development Bank was named the Best Digital Bank in Qatar at the 2024 Banking Excellence Awards by MEED research and media platform in recognition of its distinguished efforts in the field of digital transformation and technological innovation in the banking industry.

The award celebrates digital initiatives that transcend traditional online banking services, recognizing QDB’s contribution to fostering Qatar’s entrepreneurship system by supporting and enhancing the digital transformation of SMEs and their adoption of the Fourth Industrial Revolution’s trends. In line with its digital transformation strategy, QDB has served as a financial development partner over the years, providing comprehensive insights and innovative solutions to its clients.

The bank’s efforts gained further momentum since the launch of its digital portal in January 2023, offering integrated digital features and solutions to manage entrepreneurs’ accounts and disbursement processes and provide monthly business performance reports based on consolidated data. The portal has bolstered customer satisfaction, with 92% of active users returning to the portal within 1-5 days, due to its ease of use and integration with government and financial institutions, which simplifies operations and reduces paper procedures, making it easier for businesses to access financing and manage their operations.

On the other hand, QDB implemented innovative solutions to improve internal processes for employees, such as automating repetitive manual processes and creating unified control panels that help in decision-making. The bank also provided digital trade financing services to streamline processes for companies.

Commenting on the award, Ms. Amna Jassim Sultan, Senior Manager of Digital & Customer Experience at QDB, said: “We take pride in this award, which reflects our continued efforts in adopting technology and promoting digital transformation across the bank’s programs and initiatives. At Qatar Development Bank, we are committed to supporting the government’s efforts in comprehensive digital transformation, whether through providing all our services electronically or by supporting and nurturing technology startups. For this reason, we consider digital innovation as the cornerstone of our strategy to drive economic diversification and enhance the business ecosystem.”

Qatar Development Bank’s achievements in the field of digital banking services are integral to the bank’s broader strategy of bolstering the country’s economy, with initiatives ranging from the adoption of artificial intelligence and specialized services aimed at improving decision-making processes to empowering entrepreneurs in their digital transformation journey.

2024 marked the third consecutive year of achievements for QDB. In 2023, the bank was named as the Best Sustainable Bank in the MENA region, only a year after securing the 'Excellence in Crises: Customer Services in the Middle East Award' for 2022. The awards underscore the bank’s leading role in terms of providing access to digital banking services and promoting innovation in the financial sector to ensure a sustainable economic landscape.

The Banking Excellence Awards are presented by MEED research and media platform, which specializes in tracking business and financial developments in the Middle East and North Africa region and releasing economic studies and statistics on the region.