The Banking Executive Magazine - March 2024 Issue

the BANKING EXECUTIVE 42 ISSUE 183 MARCH 2024 FinTech and AI Chornicle QNB Group, the largest financial in- stitution in the Middle East and Africa, has launched ‘Fawran’, a new payment method that will provide customers a unique payment experi- ence through an innovative technol- ogy to make quick and secure payments to anyone in Qatar by using the Beneficiary’s Mobile Num- ber or Alias. This comes as a new addition to QNB’s growing extensive digital pay- ment product services. Fawran serv- ice is supported by the real-time payment system of Qatar Central Bank, which is the latest and most in- novative entrant to Qatar’s digital payments landscape. Customers can simply register to the service through QNB’s award winning Mobile Bank- ing and Internet Banking by simply using a Qatar Mobile Number or by choosing a unique Alias Name. Adel Ali Al Malki, Senior Executive Vice President, QNB Group Retail Banking, said, “We are delighted to introduce the new Fawran service that supports QNB customers to make fast and secure payments in a simple way. At QNB, we strive to- wards introducing new and innova- tive payment solutions to provide the best customer experience. Fawran is a new addition to our award winning digital banking suite of services. Fawran marks a pivotal moment in the financial industry in Qatar, offer- ing limitless possibilities for cus- tomers. We are excited to bring this transformative technology to the forefront and look forward to wit- nessing its far-reaching impact on the way we manage and transfer funds.” Adding to its array of achievements, QNB has recently received the “Best Mobile App” award at the Qatar Dig- ital Business Awards 2023. The Bank also received “Best Digital Bank in the Middle East” and “Best Digital Bank in Qatar” awards from The Digital Banker. QNB also won “Best Bank for Digital Solutions in Qatar” award from Euromoney Mag- azine, and “Best Mobile Banking App,” “Best Payment Innovation,” and “Excellence in Product Market- ing” at MEED’s MENA Banking Ex- cellence Awards. These recognitions serve as a testament to QNB’s com- mitment to excellence and to provid- ing innovative banking solutions both within the region and globally. QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. QNB INTRODUCES FAWRAN FOR FAST PAYMENTS WITHIN QATAR