Arab Today, arab today cbd’s active saver rewards fitnessconscious customers
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

CBD’s Active Saver rewards fitness-conscious customers

Arab Today, arab today

Arab Today, arab today CBD’s Active Saver rewards fitness-conscious customers

Commercial Bank of Dubai
Abu Dhabi - WAM

Commercial Bank of Dubai, CBD, yesterday announced the launch of a unique new mobile app, "CBD Active Saver", that allows fitness-conscious customers to get rewarded with higher interest rates on their savings. The app invites customers to link their CBD saving account with their Fitbit or Jawbone activity tracker devices. Customers can then transfer money from their CBD account to a special high-interest savings account based on how active they are. Essentially, the more the customer walks and exercises, the higher the interest rate they can earn. CBD is the first bank in the region to launch such a concept.

The idea for the Active Saver app was conceived at CBD's Innovation Lab, which explores new products, technologies, and processes that can add value to customers' lives and drive business efficiencies and growth. This new product is an extension of CBD's Personal Financial Management Solution launched a year ago to help CBD customers make smarter financial choices and to guide them in achieving their financial goals.

The app is available for download on the Apple App Store and is currently compatible with Fitbit and Jawbone fitness devices. More fitness trackers will be added in the future. Active Saver is also easy to set up. After downloading the app on an iOS device, customers need only to link it to a wearable fitness device and their bank account. Higher interest rates and transaction limits are tied to the number of steps taken in a day and become more attractive as the goals become higher. Interest is then accrued according to each customer's monthly average balance and paid at the end of every month.

In the near future, CBD will be offering the Active Saver app to Android users and to those customers who want to sync their iPhone and Apple Watch activity tracker with the Bank's Active Saver app.

Peter Baltussen, CEO, Commercial Bank of Dubai said, "At CBD, we are constantly looking to bring extraordinary experiences to the market and to our customers through the continual launch of innovative products and services. CBD's Innovation Lab has allowed us to help transform our employees' creative ideas into market innovations and the Active Saver App is a clear example of this. We continually look for ways to engage our employees in coming up with breakthrough products and services to provide our customers with that extra-special, extraordinary banking experience."

Commenting on the new app, Murray Sims, General Manager, Personal Banking Group, CDB, said, "The Active Saver App promotes fitness and health among our customers while giving them increased financial benefits. This new ‘Powered by You' app will encourage all our customers to improve their fitness levels while also helping them better achieve their long-term financial goals. A truly personalised experience for all."

The Active Saver app from CBD is not limited to existing customers. Anyone interested in the concept can sign up for a 30 day trial period during which users can set goals and simulate their savings growth. After the trial period is over, users can opt to continue their journey by opening a CBD account without losing any of the savings achieved during the simulation.

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