Business

Commercial Bank of Dubai (CBD) has made history as the first bank in the Middle East to integrate the Kinexys Liink application Confirm from Kinexys by J.P. Morgan into its corporate banking portal and mobile app. This milestone reinforces CBD’s commitment to digital transformation and innovative financial solutions, enhancing the efficiency and security of cross-border transactions.

Enhancing Cross-Border Payment Efficiency

The integration of Kinexys Liink, a peer-to-peer data-sharing network, enables CBD’s corporate clients to benefit from faster, more secure, and more efficient account validation for international transactions. This solution is designed to reduce the risks of payment delays, unnecessary fees, and fraud by verifying bank account details in real time.

Kinexys Liink, developed by J.P. Morgan’s blockchain division, facilitates the global validation of beneficiary account information, ensuring seamless and reliable financial transactions.

Driving Innovation in Banking

Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, highlighted the significance of this move, stating:
"At CBD, payments transformation is key to creating an efficient banking system. By integrating Kinexys Liink’s Confirm application, we are eliminating pain points in cross-border payments while reinforcing the UAE’s position as a hub for secure financial transactions. This integration strengthens the region’s payment infrastructure, offering businesses faster, safer, and more reliable banking solutions."

Strengthening Global Payment Networks

CBD’s initial rollout of the Kinexys Liink application Confirm will focus on the United States and India, two key corridors for cross-border payments. Through CBD’s iBusiness online and mobile banking platforms, corporate clients can pre-validate beneficiary details before initiating transactions, improving payment accuracy, reducing errors, and mitigating fraud risks.

Naveen Mallela, Global Co-Head of Kinexys by J.P. Morgan, commented:
"We are dedicated to enhancing the speed, security, and reliability of global cross-border payments. CBD’s integration with Kinexys Liink will bring significant benefits to the region, and we look forward to expanding this technology globally to strengthen cross-border payment infrastructure."

A Vision for the Future

By being the first bank in the Middle East to integrate Kinexys Liink Confirm, CBD is paving the way for next-generation banking solutions. This initiative aligns with the UAE’s broader vision to position itself as a global leader in financial technology, supporting business growth and unlocking new economic opportunities.

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