BIBD Launches 'BIBD NEXGEN': Infinity of Possibilities for a Digital Banking Revolution
BIBD NEXGEN: Pioneer for digital change in Brunei Darussalam
May 11th, 2018 –Bank Islam Brunei Darussalam (BIBD) today unveiled BIBD NEXGEN, its new digital banking concept that will revolutionise the future of banking to enable “Infinity of Possibilities”.
BIBD NEXGEN harnesses the latest innovations in artificial intelligence, virtual reality, machine learning, data analytics and customer insights, symbolising BIBD’s position as a pioneer in the digital space to bring more convenience and connectivity to its customers.
BIBD NEXGEN creates a futuristic banking concept that is mobile-led and customer-centric, whilst providing financial inclusion for the unbanked and underserved segments. Banking services will be more accessible to the public through the platforms ‘powered by BIBD NEXGEN’ which will de-cash the economy with emphasis on mobile-led digital transactions through enhanced interconnectivity and project multi-industry alliances.
Aligned with Brunei Wawasan 2035, BIBD NEXGEN showcases the bank’s intent to transform traditional banking to the fintech age, creating a ‘branchless banking’ proposition. At the same time, BIBD NEXGEN promotes key alliances among different industries, going beyond our shores with its local, regional and international partnerships to create synergies through inter-operability and open infrastructures. Not only will it support national priorities to make Bruneians highly skilled in the digital space, it will also benefit the entire ecosystem with higher digital adoption among the society for better interconnectivity to progress the economy towards a documented, secured, and digitised nation.
Inaugurated by BIBD Chairman, Yang Berhormat Dato Seri Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah who commented, “Alhamdulilllah, today we witness a truly momentous occasion in Brunei’s banking history. BIBD’s commitment towards creating a sustainable financial ecosystem, in line with AMBD’s Financial Sector Blueprint (2016-2025) is reinforced by the introduction of the BIBD NEXGEN platform and its supporting ecosystems and alliances. This signals that both Brunei and BIBD are prepared for the digital revolution and transformation into a more advanced digital economy.”
Yang Mulia Mr Mubashar Khokhar, BIBD Managing Director and CEO also commented, “BIBD NEXGEN will bring forward the deployment of transformative innovations. Alhamdulillah, BIBD NEXGEN is a result of the tremendous support from our customers, and is our dedication towards supporting their ambitions by providing ‘better, faster & cheaper’ services.”
Providing credence to BIBD’s belief in its NEXGEN platform is the growth it has experienced in the digital banking arena. BIBD has seen an almost 400% growth in transactions made on its digital banking platforms since 2014. This galaxy of BIBD NEXGEN technology will complement its physical infrastructure such as its award-winning digital application, branches and contact-centre.
The first steps: BIBD NEXGEN Branch and BIBD NEXGEN Mobile.
The launch of BIBD NEXGEN includes the unveiling of its first truly digital branch located at the Mall, Gadong. A first of its kind in Brunei Darussalam, the branch showcases cutting-edge technologies such as virtual reality, augmented and interactive screens. The BIBD NEXGEN branch will also feature its first BIBD NEXGEN ambassador, Arif the robot. The NEXGEN branch will provide superlative next-generation experiences to allow instant account openings and registration for BIBD NEXGEN Mobile.
At the same time, BIBD’s popular NEXGEN Mobile application has also received some welcome convenient updates including:
- Biometric and facial log in.
- Instant remittance services to several countries across Asia and Europe.
- eCredit: Purchase of gift cards from a variety of online international service providers that such as Google play, iTunes, Amazon and others.
- Direct Push Messaging to replace SMS service for better interactivity
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