Seamless Self-Service for Business Customers Qorus-Infosys Finacle Banking Innovation Awards 2024

While looking forward to setting even higher standards, MCB reaffirms its pledge to provide its corporate customers with the most innovative and customer-centric solutions to remain at the forefront of digital finance. Post-COVID-19, the importance of digital banking has been felt worldwide. MCB has felt the need to pool cutting-edge technology and market practice to implement innovative solutions and enhance customer experience. MCB has noted a significant increase of 39% in its digital transactions from the year 2020 to 2023.

At MCB, we recognised that the previous Internet Banking platform had certain limited features which did not meet the requirements of our increasingly sophisticated corporate customers. Over three years, the bank has pursued its digital efforts towards the execution of its strategic objective of consolidating its status as a leading digital and innovative bank on both the local and regional fronts.

In January 2023, in collaboration with our omni-channel partner, Backbase, we successfully launched our newly revamped Internet Banking platform for our non-individual segment, IB Pro. MCB has, therefore, seized the opportunity to offer to its corporate customers a set of new and innovative features such as a fresh interface and intuitive navigation, a graphical representation of account balances, self-services, and seamless registration for new users, amongst others. Besides, our updated SmartApprove mobile application, directly linked to our omnichannel platform, enables approval for transactions processed on IB Pro. SmartApprove is the ‘two-factor’ authentication tool for IB Pro transactions, making the approval experience of signatory users seamless and more efficient, with an enhanced level of security.

The primary objective of this new journey is to elevate the customer experience while continuously implementing a higher standard of security. For the past few years, MCB digital platforms, Juice and Juice Pro, the mobile banking apps for the Retail and Business Banking sectors respectively and Internet Banking for corporations were all operated through different platforms. The three above-mentioned banking platforms of the MCB today sit on the same backend system, Backbase, to provide our customers, the same customer journey across segments. This omnichannel strategy has been crafted to offer all MCB clients a modern and similar experience in terms of presentation/display of features, interaction and most of all, performance. Our aim is also to simplify our customers’ day-to-day banking operations from onboarding to seamless self-service experiences, which were less appealing to customers on the previous platform. Whether it is a small business or a large corporation, our platforms/apps are designed to enable our customers to save time and focus on business growth.