Emirates NBD Transaction Banking boosts Dubai Department of Finances digitisation strategy
Emirates NBD, a leading bank in the region, has announced the successful implementation of a digitised payment solution for Dubai Department of Finance (DoF) to attain full Host-to-Host (H2H) integration of all payment processes through the banks smartBUSINESS Connect solution.
Implemented by the banks Transaction Banking unit, the integration will ensure unified and secured messaging between the two organisations for day-to-day banking operations, helping DoF save time, costs and resources. This ecosystem will offer both parties real-time data on transactions, saving big amounts of paper on an annual basis, in line with Dubai Paperless Strategy 2021.
Emirates NBDs smartBUSINESS Connect supports high volume transactions with guaranteed data exchange, providing data for reconciliation as per industry standard formats. Through smartBUSINESS Connect, DoF will be able to conduct automated and secured outgoing payments with simultaneous transfer of payment data and approvals.
"In line with the vision of the wise leadership to transform the Government of Dubai into a fully smart model, DoF has gone a long way in accomplishing full electronic connectivity with banks, under the Dubai Paperless Strategy launched by H. H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council," said Jamal Hamed Al Marri, Executive Director of Central Accounts Sector at DoF. "Our fruitful collaboration with Emirates NBD is intended at dropping the burden and workload on employees, saving on financial resources and decreasing paper waste, as well as enhancing security and speed of work. We are keen to endure looking at advancing our relationship with the bank in the future."
Emirates NBD is at the forefront of driving technologies to digitise clients processes, bringing greater competences in their day-to-day operations and making banking smoother, faster and more secure, said Ahmed Al Qassim, Executive Vice President, General Manager of Corporate Banking at Emirates NBD. We were pleased to support DoF in this critical project that replicates our obligation to enabling the leaderships Smart Dubai agenda of a paperless economy. Emirates NBD looks forward to future such partnerships with public and private sector clients to transform this vision into reality.
