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QNB has won the “Consumer Service Innovation Award” at the 10th Global Telecoms Business Innovation Awards held recently in London. The award, the bank said, distinguishes QNB for its contribution to mobile financial services and for creating the Mobile Money Wallet in partnership with Ooredoo.
Envisioning the need for financial inclusion across different segments of the society, including low-income workers, QNB said the Mobile Money service was developed in 2012 alongside Ooredoo and MoneyGram, and today works with multiple partners globally to support 4mn transactions per year.
The solution, according to QNB, provides key financial services, including remittance and payroll, as well as deposits, payment, withdrawal, and transfer functionality.
Large corporates and small and medium-sized enterprises are now using the Ooredoo Mobile Money Wallet to electronically distribute workers’ salaries in Qatar due to its convenience and compliance with the Wage Protection System. This service also includes a special bank card that employees can use at any ATM and point-of-sale machines.
QNB said it continuously innovates and redefines business models via strategic alliances with leading organisations across different industries. Recently, QNB won the Asian Bankers award for Best Business Model Execution in The Middle East 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 is one of the most prestigious awards events of the wholesale telecoms calendar. Now in its 10th year, the 2016 edition attracted more entries and higher profile attendance compared to the previous events.
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 20mn customers through 1,200 locations and 4,300 ATMs.
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