Business

Emirates Development Bank (EDB) has been recognized as a regional leader in digital banking, earning prestigious accolades at the MEED MENA Banking Awards 2024 and The Digital Banker’s Middle East & Africa Innovation Awards 2024. EDB was named The Digital Innovator of the Year by MEED and received the award for Best Bank for Trade Finance – UAE from The Digital Banker, reflecting its commitment to innovative digital solutions and exceptional trade finance services.

These awards underscore EDB’s dedication to leveraging smart technologies to meet the evolving digital needs of businesses in a complex global landscape, ultimately redefining the banking experience for its customers. Shaker Zainal, Chief Business Officer of Emirates Development Bank, expressed pride in the recognition, stating, “We are honored to be recognized by MEED and The Digital Banker. This recognition highlights our digital achievements and ambitions, as well as our commitment to delivering unmatched online banking solutions to improve our customers’ financial experiences and help them seize global growth opportunities.”

EDB has focused on driving economic growth by enabling key sectors critical to the UAE's future. The bank has made significant strides in enhancing digital onboarding experiences and offering a comprehensive suite of transaction services. These include trade finance, advanced cash management platforms, and supply chain and working capital solutions designed to meet the financial needs of businesses of all sizes.

The Digital Banker’s accolade for Trade Finance recognizes EDB’s innovative approach in providing cutting-edge supply chain finance and trade finance solutions. These solutions are designed to support UAE companies and bolster their growth, allowing businesses to mitigate risks associated with global trade while operating securely and comfortably.

MEED’s MENA Banking Awards acknowledged EDB’s digitalization strategy and focus on delivering innovative digital solutions through mobile and internet banking. EDB’s partnerships with fintech leaders have been pivotal in its digital transformation. Notably, the award-winning Business Banking App, developed in partnership with YAP, enables businesses to quickly secure an IBAN, activate their account within 48 hours, and benefit from fee-free banking without minimum balance requirements. EDB’s collaboration with Beehive has also revolutionized SME finance access, allowing SMEs to apply for loans up to AED 5 million and receive feedback within five days.

In line with its commitment to innovation, EDB recently unveiled the ‘EDB Smart Connect,’ an advanced cash management platform. This platform provides clients with a seamless banking experience, maximizing efficiency and enhancing security and transparency across all payments and transactions.

These achievements highlight EDB’s role as a forward-thinking leader in the regional banking industry, committed to using technology to enhance customer experiences and support business growth across the UAE.

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