The National Bank of Iraq (NBI) is enhancing the banking experience for its customers with a mobile banking application created in collaboration with Codebase Technologies using their Digibanc platform.
This initiative provides NBI’s customers with secure, and user-friendly access to a comprehensive range of financial services through their handheld device.
Go deeper with GlobalData
Ayman Abu Dhaim, CEO of the National Bank of Iraq, commented: “Our new mobile banking app represents our unwavering commitment to our customers and our forward-looking vision for the banking sector in Iraq. Our goal is to significantly improve financial experiences in the country and provide industry-leading digital banking services.”
Only 1% of Iraq receive payment through bank transfer
The Iraqi banking sector, predominantly cash-based, has faced challenges in digital transformation. According to research, 88% of adults in Iraq receive their income in cash, with only 1% through bank transfers.
As of early 2024, Iraq has seen significant digital growth, with 36.22 million internet users, representing an internet penetration rate of 78.7% of the total population. Against this backdrop, NBI’s new mobile banking app is bridging the gap, promoting digital financial experiences, literacy and inclusion.
The newly launched app has already seen a substantial uptake, with more than 100,000 users already adopting the platform. The app has also achieved more than 43% retention rate
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDigibanc’s pre-built feature-based components facilitated a swift market launch, enabling NBI to offer its customers the latest in digital banking technology, quickly and efficiently. The mobile banking revamp was run concurrently with National Bank of Iraq’s core banking system upgrade with minimal impact on the launch timeline, underscoring the flexible and seamless architecture of Digibanc.
Tamer Mauge, Managing Director, MENA at Codebase Technologies, said: “As the technology partner, we are proud to support the National Bank of Iraq’s digital transformation journey. This project underscores the importance of collaborative efforts and showcases the flexibility of our Digibanc platform in integrating seamlessly within complex banking infrastructures.”
