Digital letters of credit (L/Cs) feature in Sharjah Islamic Bank's (SIB's) newly launched corporate digital banking services.

The new offering is designed to provide an integrated banking experience characterised by speed, flexibility and security according to the bank.

It says the digital services respond to the exceptional circumstances imposed by the coronavirus pandemic that have created new challenges in corporate banking.

Scope of services

By launching the new digital services for the corporate sector, the bank says it is expanding its range of services in order to provide an integrated and comprehensive digital experience for the bank's current and future customers via the internet and mobile phone.Corporate digital banking includes many services that can be accessed around the clock and from anywhere. These include L/Cs and guarantees, current accounts and term deposits as well as remittances, bill payments and salary transfers.

Biometric technologies

SIB says it is keen to provide the highest levels of security in its modern digital banking services based on biometrics technologies to identify users through fingerprints or facial recognition.The bank has also developed an interactive model for customers to ensure the provision of a comprehensive and integrated digital service.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.