Doha, 25 July 2016 - QNB, a leading financial institution in the Middle East and Africa, has won the Consumer Service Innovation Award at the 10th annual Global Telecoms Business Innovation Awards held in London recently. The award distinguishes QNB for its contribution to mobile financial services, and creating the Mobile Money Wallet in partnership with Ooredoo, Qatar’s leading telecom firm.
Envisioning the need for financial inclusion across different segments of the society, including low-income workers, the Mobile Money service was developed in 2012 alongside Ooredoo and MoneyGram, and today works with multiple partners globally to support 4 million transactions per year .
The solution provides key financial services, including remittance, payroll, as well as deposits, payment, withdrawal and transfer functionality.
Companies, both large corporates and SMEs, are now using the Ooredoo Mobile Money Wallet to distribute salaries electronically to their workers in Qatar, due both to its convenience, as well as its compliance with the recently introduced Wage Protection System. This service also includes a special bank card that employees can use at any ATMs and point-of-sale machines.
QNB continuously innovates and redefines business models via strategic alliances with leading organizations across different industries. Recently QNB won the Asian Bankers Award for Best Business Model Execution in The Middle East Award for its strategic partnership with Ooredoo on the Mobile Money Business Model.
Organised by Global Telecoms Business magazine, the Innovation Awards recognise innovation and excellence throughout the international telecoms industry.
The Global Telecoms Business Innovation Awards have become one of the most prestigious awards event of the wholesale telecoms calendar. Now in its tenth year, the 2016 edition attracted more entries and higher profile attendance than ever before.
QNB Group is present, through its subsidiaries and associate companies, in more than 30 countries across three continents providing a comprehensive range of products and services. QNB Group staff exceeds 27,300, serving more than 20 million customers through 1,200 locations and 4,300 ATMs.