Emirates NBD Corporate & Institutional Banking launches digital Supply Chain Financing platform
As part of its ongoing digitisation strategy, Emirates NBD, a first line in the MENAT (the Middle East, North and Turkey) area has started a digital Supply Chain Financing program for its corporate and institutional clients.
Emirates NBDs smartSCF program will offer companies in the UAE a set of combined, automated tools intended to improve and analyse their supply chain collaborations while optimising operation capital and decreasing transaction costs. The platform empowers customers to profit from increased cash flow capabilities while their suppliers profit from the early return of their invoices, without the need for security and at competing rates.
The smartSCF platform has been created to help increase operational efficiencies for both corporate clients and their suppliers. Suppliers can seamlessly self-on-board via the digital supplier onboarding toolkit, the first of its kind in the region. Moreover, smartSCF has enhanced data analytics tools such as interactive dashboards and customised reports which assist clients to gain clarity on the program from supplier onboarding to return and settlement as well as their cashflows.
Emirates NBDs smartSCF program caters to the increasing need for digitisation of supply chain administration and financing, which has developed as one of the key advantages for corporate clients across industries.
Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking at Emirates NBD said: As the countrys preferred corporate bank, we have grown in stature as trusted providers of smart, innovative resolutions that improve the efficiency of doing business and support the UAEs drive towards digitisation in all aspects of the industry.
Our digital supply chain finance program delivers on our responsibility to enabling possibilities for corporate clients while optimising their effective capital. We are happy to offer companies in the UAE a seamless, secure platform that offers them full transaction clarity and payment flexibility while enhancing their suppliers liquidity.
