Digital Transformation - AI, Data and Cloud Integration

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Digital Transformation - AI, Data and Cloud Integration

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Doha Bank's 2024 Annual Report highlights significant AI and digital transformation initiatives across the bank. Digital Transformation Strategy Doha Bank's digital transformation is guided by eight guiding principles, with "Digitization, Automation, and Innovation" as a core pillar. The Himma Transformation program was launched in October 2023 to simplify, digitize, and automate internal and customer-facing processes. The bank has automated and re-engineered internal processes to drive service improvement, and launched mobile apps for both corporate and retail customers. AI and Data Analytics The bank's Digital Systems & IT strategy focuses on five broad themes: Digitization, Digitalization, Architecture & Analytics, Robotics & Artificial Intelligence, and Data, Cloud & Security. AI & Data Analytics is identified as key for effective data analysis for better decision making and utilizing the power of AI. The bank is moving to cloud infrastructure to improve flexibility and scalability, and DevOps practices help roll out products faster. Digital Banking Results As of December 31, 2024, 88% of all retail customers' comparable financial transactions are performed through Doha Bank's digital and self-service channels. The bank relaunched its retail mobile banking app in May, resulting in increased customer engagement and higher app ratings (4.7). New features include dynamic CVV, insurance, installment conversion, and simplified login. 92% of all retail branch cash transactions (deposits and withdrawals) are processed through the bank's ATM network, and 61% of all cheque deposits are through the ATM and ITM network. Digital Wallet and Payments Doha Bank's digital wallet, Doha Pay, supports Tap'n Pay, Apple Pay, and Google Pay. The bank has also implemented Straight-Through-Processing (STP) for improved transaction efficiency. E-commerce marketplace operations handled 384 merchants during the year with year-to-date transaction volume totaling QAR 10.3 billion. Wholesale Banking Innovation Global Transaction Banking & Innovation provides tailored banking products, services, and channels including cash & liquidity management, trade finance, supply chain and digital advisory services. The corporate online banking portal (Tadbeer) was upgraded for UAE and Kuwait operations, and Confirmation.com was introduced for Qatar, UAE and India to enhance balance confirmation automation. A new digital corner at Doha Bank Tower educates clients on digital products. Enterprise AI Approach Doha Bank's digital architecture ecosystem is based on service-oriented architecture, which is described as more secure, scalable and offering new revenue generation opportunities. The bank is building platform and tools for partners through open banking principles and API Store. Blockchain capabilities are also being developed. The bank has adopted a structured Governance Risk & Compliance (GRC) approach to ensure organizational activities are aligned with business objectives while effectively managing risk and meeting compliance requirements. Information Security Information Security is a major focus due to the risk of cyber-attacks. The bank operates a 24/7 Security Operations Centre, conducts regular risk assessments and cyber security drills, and maintains a robust Vulnerability Assessment and Penetration Testing (VAPT) program. The bank has comprehensive cyber security insurance and Business Continuity Management (BCM) and IT Disaster Recovery programs.