Emirates NBD and Nium join forces to transform global cross-border payments in the Middle East

Business

Emirates NBD and Nium join forces to transform global cross-border payments in the Middle East

Partnership seeks to enhance cross-border payments from the UAE to the rest of the world Emirates NBD to offer a seamless, instantaneous, cost-effective remittance experience to customers

In a move set to redefine the financial services landscape in the Middle East, Emirates NBD, a leading banking group in the MENAT region, and Nium, a global leader in real-time cross-border payments, have announced a strategic partnership. The alliance aims to empower customers with a state-of-the-art remittance solution, promising seamless and instantaneous cross-border transfers between the UAE and countries worldwide.

Pending regulatory approvals, the collaboration seeks to enhance the remittance experience for users, particularly in the UAE, where remittances have surged due to a growing expatriate population and flourishing cross-border trade. Leveraging Nium's advanced payouts services, Emirates NBD aims to provide its customers with cost-effective payment solutions characterized by speed and unparalleled reliability.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, expressed the bank's commitment to innovation, stating, "As a leading national banking group, Emirates NBD has played an active role in introducing innovation in all our banking solutions. The partnership with Nium, a global leader in real-time, cross-border payments, will facilitate seamless, global transactions for our customers. This collaboration is a testament to the bank’s commitment to embracing cutting-edge technologies and pushing boundaries to deliver excellence."

Prajit Nanu, Founder and CEO at Nium, emphasized the company's mission to expand its global payments infrastructure, with a particular focus on the Middle East market. Nanu stated, "The Middle East is a key market for us, and we have been doubling down on expansion in the region. Our partnership with Emirates NBD extends our presence into the heart of the Middle East with one of the most trusted names in the region. As a cornerstone of the global digital banking industry, Emirates NBD stands at the intersection of trillions of dollars of money movement and through this partnership Nium looks forward to moving more money in real-time across the region and beyond on our global infrastructure."

Nium's payments infrastructure, tailored for fast-growing businesses, facilitates real-time money movement to over 100 countries, boasting shorter settlement windows, immediate funds receipt, and enhanced efficiency.

The strategic alliance between Emirates NBD and Nium heralds a new era of cross-border payments in the Middle East, promising customers enhanced convenience, speed, and reliability in their financial transactions.