One of the latest projects that Prototype Interactive has been working on is the new Facebook Branch available for customers of the Commercial Bank of Dubai. This service allows customers to check their balance, make transactions and monitor their expenses from the Facebook platform instead of having to log in to the bank's website. This is a giant leap forward in innovation for banking in the region and the first of its kind in the Middle East. This blog explores this new feature launched by the CBD and discusses why advancements of this kind are important for public services.
Prototype Interactive has designed and developed an app for CBD that allows its customers to manage their bank account on Facebook. Users can check their current and savings accounts, check credit card balances, pay credit cards, transfer money between CBD accounts and apply for CBD products. In addition to these features, there is also a virtual assistant available on Facebook to help customers' complete transactions done through the Facebook branch. The only time customers will need to log in to the CBD website will be to complete more complex transactions or requests.
There are 3.6 million Facebook users in the United Arab Emirates alone so it is certainly a country that enjoys Facebook more than any other social networking websites. Customer insights show that people tend to check their Facebook within 15 minutes of waking up in the morning and then an additional five times a day after. This app allows customers to keep a check on their bank account while being active on the social network.
Nowadays people seem to be busier than ever and remembering to check everything you need to can be a challenge. When banks and other services provide an app like the Facebook branch, they are enabling their customers to complete more tasks in a shorter period of time and as apart of their everyday lives. This CBD app allows CBD customers to bank when and where they want to with the information they need. This ultimately improves the user experience and provides a service that will naturally slot into the customer's life. It is the type of innovation that becomes a 'must-have' not a 'could-have'.
The question at the top of most users concerns will undoubtedly be surrounding security. However, the application has been developed with highest security standards and critical information and transactions and protected using a combination of Facebook authentication, pins and one time passwords making it as secure as any other online banking channel.
What is your view on the new Facebook Bank Branch?
January 9, 2020
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