Commercial Bank awarded 'most innovative use of AI technology' by International Finance

03/07/2025 04:34 AST

Commercial Bank, a leader in innovative digital financial solutions, has been recognised as the 'Most Innovative Use of AI Technology - Banking - Qatar 2025' by International Finance.

Commercial Bank's AI journey began with the launch of its Data Strategy in 2022, a cornerstone of its future development strategy. The bank has made significant investments in cutting-edge hardware, technology, and data architecture, as well as cultivated internal talent and high-performing teams across data science, data engineering, and data governance functions.

These efforts have elevated the bank's services through the adoption of the latest in-demand digital tools like 'Character Recognition Solutions' and 'CB Smart Email', with many more initiatives in the pipeline.

With AI woven into its strategy, Commercial Bank is enhancing product areas, targeting customer segments, and streamlining operations.

The bank is driving efficiency across the board: reducing manual work, improving automation, and increasing transaction efficiency. In parallel, AI-powered models are being leveraged to strengthen risk prediction and reinforce fraud prevention protocols.

Commercial Bank Group Chief Executive Officer Joseph Abraham stated, "At Commercial Bank, we remain aware to the future of banking with AI seen as a critical enabler of future growth. By embedding AI across our operations, we not only enhance our customer experiences, but also unlock new opportunities for product innovation and proactive risk identification, assessment, and mitigation through the lifecycle of all AI projects."

Aimen Kallala, Assistant General Manager and Head of Strategy and Analytics of Commercial Bank added: "Our AI strategy is built on a foundation of inclusive access, operational transparency, and responsible technology governance, as aligned with the Bank's ESG objectives, Qatar National Vision 2030, and Qatar Central Bank's AI Guidelines.

"Overall, the Bank's AI strategy lays the groundwork for AI's transformative impact on the future of banking, reinforcing its position as an innovative leader in the financial sector."

Gulf Times