Mastercard inks deal with ila Bank
Ila Bank, powered by Bank ABC, has partnered with Mastercard to enhance the bank's proposition across consumer products, launching new affluent, travel products and loyalty offerings.
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This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
ila Bank will leverage Mastercard's expertise to introduce loyalty program that supports cardholders' lifestyle, providing added value across a wide range of areas, including dining, luxury shopping, travel and priceless experiences. The new product line will also leverage enhanced fraud solutions and privacy protection to secure every transaction.
Mohamed Almaraj, ila Bank CEO, said, 'ila has always been about the customer. We are proud to have maintained our commitment to offering customer-centric solutions and experiences in a growingly cashless economy, and this strategic agreement furthers the ila promise of 'banking that reflects you'. Renewing our engagement with Mastercard will strengthen our standing as the frontrunner in the region's digital payments landscape by offering the most seamless, secure and future-focused product portfolio that provides unparalleled premium benefits.'
Adam Jones, Mastercard's Division President for West Arabia, said, 'In line with our shared commitment to driving innovation across the digital ecosystem, our long-standing relationship with ila Bank focuses on delivering customer-first solutions that help ensure a secure and rewarding banking experience. We will continue to provide our partners with enhanced product offering, supporting regional expansion.'
Mastercard has been a trusted partner of ila Bank from the outset, supporting the bank's strategy Together, they have introduced several innovative propositions to the market, including the multi-currency debit program, the Pay with Rewards loyalty program and the Mastercard airline co-brand with Gulf Air in Bahrain.
Since its establishment in 2019, ila Bank has been dedicated to addressing the dynamic needs and lifestyles of its customers with bespoke banking solutions. The digital, mobile-only bank, well-received both domestically and regionally, currently offers a range of card products, including debit, credit and prepaid cards, that provide unparalleled bonus advantages and a personalized loyalty reward system.
Other innovative products accessible through the award-winning ila app include smart digital saving tools, like Hassala and Jamiya, as well as Al Kanz, ila's prize account that awards substantial cash prizes to lucky customers throughout the year.
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