Commercial Bank of Dubai opens 'Facebook branch'

Commercial Bank of Dubai opens 'Facebook branch'

Commercial Bank of Dubai (CBD) has introduced a 'Facebook branch', enabling customers to check their accounts and transfer funds from within the social network.

The UAE has 3.6 million Facebook users, who check the site an average of five times a day, usually making their first visit within 15 minutes of waking, says CBD.

The bank is trying to integrate itself into the relationship its customers have with the site by letting them check current and savings accounts and credit card balances without leaving Facebook. Users can also pay off credit cards, as well as transfer money between their CBD accounts and apply for products.

Peter Baltussen, CEO, CBD, says: "CBD recognizes that as more and more people utilise social media, customers increasingly expect banks to offer services via these platforms. Customers want convenience and be able to do banking as part of their everyday lives, when and where they want."

CBD is one of the first banks to let customers carry out transactions from within Facebook. Yesterday India's Kotak Mahindra Bank launched a bank agnostic mobile money transfer service for friends on the social network.

Comments: (2)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India 16 October, 2014, 12:41Be the first to give this comment the thumbs up 0 likes

What a person does after 15 mins of wake up in morning ? Check his FB account !! I don't know how it can be measured by Survey agencies.

I think none of the banker will be thinking that its customer feel so unsafe on wake up that, they need to check their account :)

I can accept the business case but not at the cost of inflated numbers to create gango effect :)

A Finextra member
A Finextra member 16 October, 2014, 13:23Be the first to give this comment the thumbs up 0 likes

i hereby want to have FB ACCOUNT  instantly?

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