The Commercial Bank of Dubai (CBD) recently announced signing an exclusive multi-year strategic partnership agreement with Visa, a global leader in digital payments, for credit and debit cards. The agreement aims to further accelerate digital payments in the UAE, offering innovative and customer-centric solutions to CBD cardholders across all segments.
Khaled Al Hammadi, general manager, Personal Banking Group at CBD, and Salima Gutieva, Visa’s VP and country manager for UAE, signed the agreement in the presence of Dr. Bernd van Linder, CEO of CBD, and Andrew Torre, Visa’s Regional President for Central and Eastern Europe, Middle East and Africa.
Accelerating and simplifying payment experiences
Under the agreement, CBD and Visa will collaborate on establishing a ‘Center of Excellence’ powered by Visa Consulting and Analytics (VCA). The center aims to accelerate and simplify customer’s payment experiences by leveraging core data assets and deriving insights to formulate actionable recommendations that aim to address business challenges and offer personalized solutions to customers.
“With Visa’s global expertise and CBD’s dedication to meeting the needs of our customers, we aim to provide a more seamless payment solution, delivering a variety of competitive and innovative features, products, and offers that are data-driven and are based on customer feedback,” stated Khaled Al Hammadi, General Manager, Personal Banking Group at CBD.
The center will support CBD’s goals of market expansion, product design, customer acquisition and engagement improvement. Hence, it focuses on areas such as encouraging card usage through engaging and rewarding gamification. Moreover, it positions CBD Visa cards as the top choice in digital wallets and enhances cross-border transactions and payment speed. In addition, it supports the expansion of the bank’s footprint through strategic digital merchant collaborations.
Leveraging advanced technology
CBD and Visa aim to redefine the marketing landscape for the CBD card business by utilizing advanced technology to enhance digital customer onboarding experiences, sponsoring high-profile events like the Olympics, and launching the Visa Instalment Solution in the UAE to introduce flexible payment options for customers directly through Point-of-Sale (POS) machines. Moreover, they seek to offer comprehensive local and international benefits, focusing on the complete lifecycle of new and existing CBD Visa cardholders.
“The financial sector landscape is changing dramatically with technological disruption, the emergence of new players, as well as constantly evolving customer expectations. Our collaboration with Visa will help us in developing new business models and providing more personalized customer offerings,” stated Dr. Bernd van Linder, CEO of CBD.
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