Gulf International Bank unveils the first customer designed retail bank in the Kingdom of Saudi Arabia
Meem by GIB (‘meem م’), a progressive retail banking service provided by Gulf International Bank B.S.C. (GIB), was officially launched today at an event in Al Khobar. Over 200 ‘meem م’ customers attended the event, along with members of the media, who all had the opportunity to experience the innovative and unique products and services on offer by ‘meem م’.
‘meem م’ offers innovative, non-traditional Sharia’a compliant banking services such as ‘the-One-Pack’ account which combines the benefits of both current and savings accounts, online flexible term deposits, multi-currency debt cards and digital communication channels such as email, web chat and social media such as Twitter.
‘meem م’ offers their customers a broad range of channels through which to open and manage their ‘meem م’ accounts using e-banking and contact centre or stores. The Bank is particularly proud of the innovative and unique in-store experience where ‘meem م’ has deployed and used state of the art technology that is both simple to use and enhances the customer’s experience.
‘meem م’, has opened stores in Riyadh, Jeddah and Al Dhahran that enable customers to complete the account opening process and receive their debit cards immediately as well as withdraw and deposit cash, make transfers and do their own account maintenance.
Dr. Yahya Alyahya, GIB’s Chief Executive Officer, said, “The launch of our retail banking service capitalises on the immense potential in the GCC, focusing on an audience that values and relies on technology for the benefit it offers – convenience and simplicity. Our retail proposition is built on technological innovation and harnesses the advantage to provide a unique customer experience. Our aim is to be ‘ahead-of-the-curve’ in providing clear and simple products and professional services to customers in the Kingdom of Saudi Arabia and eventually across the GCC.”
Over the past three years ‘meem م’ was uniquely designed and created by employing the concept of “co-creation” which involved a large group of target customers (meemers) who were engaged using various social media channels. This co-creation experience is considered to be the first of its kind in the banking sector regionally, which not only helped shape the business model of ‘meem م’ but also the services and products on offer, as well as the brand identity and the values of ‘meem م’.
Commenting on the unique proposition of online and mobile banking offered by ‘meem م’, Sakhr Almulhem, Head of Retail Banking, said, “We are passionate about our customer-centric approach. Our customers will have the freedom and convenience of carrying out all services electronically. ‘meem م’ is a reflection of our core values of innovation, simplicity, boldness and transparency, which have helped us to successfully launch the world’s first customer designed retail bank in the Kingdom of Saudi Arabia.”
‘Meem by GIB’ is a registered trademark offering a suite of innovative Sharia’a compliant non-traditional banking services that are licensed by the Saudi Arabian Monetary Agency (SAMA).