As businesses respond to the UAE’s #StayHome directives, Emirates NBD’s Corporate Banking division has reported that over 70 percent of its corporate client base is digitally active on its award-winning digital platform, smartBUSINESS and smartTRADE portal.
In a statement by the bank on Sunday, Corporate Banking has witnessed a significant 60 percent month-on-month increase in digital on-boarding volumes, as new and existing transaction banking clients opt for digital channels for their ongoing cash management and trade finance requirements.
The bank further reported that 96 percent of the Corporate Banking division’s payment volumes are now processed through its digital channels, with smartBUSINESS payments, smartTrade services and ICCS Collect (remote cheque deposit) being the top three services used by clients.
Emirates NBD recently received international recognition for its "Transformation in Transaction Banking" from Celent Research, made up of leading international experts in financial services technology. Analysts at New York-based Celent declared Emirates NBD as the winner of its 2020 Model Bank award for Transaction Banking transformation, commending the bank on its usage of modern technological architecture and co-creation in innovation to improve the client experience and increase operational efficiency.
The bank recently enhanced its smartTRADE portal, introducing a smartCOLLECTION service that enables clients to request the processing of export collections entirely online, as part of the bank’s overall commitment to continue supporting businesses with safe and ongoing operations during the ongoing COVID-19 pandemic.
"The UAE is a key international trade hub and it is encouraging to see UAE companies focused on business continuity, as they respond to the ongoing market dynamics around COVID-19 by migrating to digital ways of conducting business. We pledge to continue to support their plans and ambitions, as we continue delivering on our promise of superior client service," Ahmed Al Qassim, Executive Vice President, General Manager of Corporate Banking at Emirates NBD, said.
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