Emirates NBD to launch UAE’s first ‘digital bank’

Emirates NBD has announced that it will invest Dh500 million over the next three years towards digital innovation and multichannel transformation of its processes, products and services.  

The bank also revealed plans to launch the UAE’s first digital bank targeted at millennials.

A first-of-its-kind ‘by the customer, for the customer’ initiative using digitisation and social input as key enablers, the new digital bank will offer customers the next generation of self-service money management with useful tools and applications.

The announcements reinforce the bank’s position as a digital pioneer in the GCC region and as a key player in the emergent global digital banking industry.

Expanding on the bank’s overarching digitisation strategy, Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD said: “As the UAE’s largest financial institution with a track record of over 50 years of contribution to the UAE’s development, we are honoured to facilitate a ‘smart’ transformation in bankin.”

Shayne Nelson, Group CEO of Emirates NBD added: “We are making a commitment to the future with our digital transformation plan. Our focus on technology innovation and adoption to create digital-only products is creating a new paradigm in the way people bank in the UAE.”

The bank’s investment will focus on five key areas, namely: end to end process transformation; smoother, faster and more responsive customer interface; omnichannel experience, fortification of cyber security and anti-fraud capabilities; and enhancement data management and analytics, all underpinned to the UAE’s ‘smart city’ initiatives to offer a seamless and  enhanced customer experience.

Customers can perform over 100 transactions including request for new products and service via Emirates NBD’s online and mobile banking channels.

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