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Noor Islamic Bank opens 'bank of the future' competition

02 October 2012  |  4445 views  |  0 Innovation Showcase logo

Dubai's Noor Islamic Bank has launched an online 'bank of the future' contest offering a $20,000 prize for the most innovative idea for improving customer service standards at the five-year old bank.

Noor has created an online 'Shape Your Bank' competition designed to solicit people's expectations of banks in the future. Ideas can be submitted by logging on to a dedicated 'Shape Your Bank' website or via the bank's Facebook page. The closing date for entries is October 31.

To support the initiative, Noor will showcase its own vision of a 'Bank of The Future' at GITEXTechnology Week 2012, which takes place at the Dubai World Trade Centre in mid-October.

"The high-tech, interactive, concept bank will provide a unique, immersive, 3D experience of how the future of banking could develop," says the bank.

The notion of crowdsourcing customer opinion on new ideas for shaping and transforming the future of banking has captured the imagination of a number of leading banks over the past year. Commonwealth Bank of Australia launched its own IdeaBank portal in 2011 offering a $10,000 for the best entry, while UK direct bank first direct has set up an online 'lab', where customers are invited to critique and comment on new product innovations.

Hussain Al Qemzi, GCEO of Noor Investment Group and CEO, Noor Islamic Bank says: "The 'Bank of the Future' programme...will enable our customers, and future customers, to shape their banking experience with us. We want to know their expectations of us and what services and products matter most to them."

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