Over 60% Increase In Clients On Boarding To Digital Channels Reported By Emirates NBD Corporate Banking
As businesses react to the UAEs #StayHome directives, Emirates NBDs Corporate Banking division reports that over 70% of its corporate client base is digitally active on its award-winning digital platform, smartBUSINESS and smartTRADE portal.
Corporate Banking has witnessed a considerable 60% month-on-month increase in digital on-boarding volumes as new and present transaction banking clients opt for digital channels for their ongoing cash management and trade finance requirements. The bank similarly reports that 96% of the Corporate Banking divisions payment volumes are now processed via its digital channels with smartBUSINESS payments, smartTrade services and ICCS Collect (remote cheque deposit) being the top three services availed by clients.
A front-runner in digital banking innovation, Emirates NBD currently obtained global attention for its Transformation in Transaction Banking from leading global experts in monetary services technology, Celent Research. Analysts at New York-based Celent declared Emirates NBD the winner of its 2020 Model Bank award for Transaction Banking transformation, commending the financial institution on its utilization of cutting-edge technological structure and co-creation on innovation to enhance customer experience and enlarge operational efficiency.
The financial institution currently improved its smartTRADE portal introducing a smartCOLLECTION service that allows customers to request processing of Export Collections completely online. The new service is part of the banks common dedication to proceed assisting businesses with safe and ongoing operations during the ongoing COVID-19 situation.
Ahmed Al Qassim, Executive Vice President, General Manager of Corporate Banking at Emirates NBD, said, We firmly agree with that digital innovation has to bring demonstrable business advantages to our clients by aiding their goals and bringing better efficiencies to their operations. We are honoured to be diagnosed by a prestigious global industry expert such as Celent for our efforts and dedication to be the transaction banking partner of choice to businesses in the UAE.
The UAE is a key global trade hub and it is encouraging to see UAE companies centered on business continuity as they respond to the ongoing market dynamics around COVID-19 through migrating to digital methods of conducting business. We pledge to proceed to assist their plans and ambitions as we continue handing over on our promise of most excellent customer service, stated Al Qassim.
Emirates NBDs Transaction Banking division offers a complete suite of products and advisory services to aid working capital requirements and maximise business opportunities, enabling the bank to capitalise on the UAEs reputation as a global trade hub and the developing demand for trade finance solutions in the region.
