Digital Banking

CIH Bank Digitizing Processes With Help From Finastra

Moroccan commercial bank CIH Bank is going live with new automated banking services with the help of Finastra, a press release states.

CIH Bank has received help on implementing new programs, Fusion Corporate Channels and Fusion Trade Innovation, which will help automate the bank's finance solutions and let customers access things online rather than having to do so in person.

The release says the bank, which has been in existence for 70 years, wants "to become more efficient and agile, grow its customer base by providing a more seamless digital customer experience and ultimately generate new revenue streams."

"CIH Bank has strong links with the business community in Morocco. By digitalizing our corporate services, we're making sure that these customers are receiving the best service possible, from the comfort of their homes or offices," said Oussama Tazi, director of international with the bank, the release says.

Tazi added that the pandemic, as it has in almost every area of life, made it an imperative to transition more quickly to digital banking, "to remove every manual step from the banking process and ensure business continuity for our customers," he said, according to the press release.

The addition of Fusion Corporate Channels will allow CIH to integrate all its banking functions under one app, letting users analyze transactions, allow mobile banking and host-to-host connectivity, and access personalized inquiries in a secure manner, the press release says.

Meanwhile, with Fusion Trade Innovation, users have access to built-in workflow features and a "smart user interface," according to the bank.

Community banks have been taking advantage of FinTech collaborations as of late, particularly with the aforementioned digital shift due to the pandemic. That includes other Finastra team-ups, such as the company's recent work with The Peoples' Community Bank, which entailed helping the bank build and launch new products in a quicker manner.

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