Emirates NBD pushes for digital transition

Dubai: Emirates NBD on Wednesday unveiled a number of digital banking solutions as part of its efforts to push the maximum number of bank transactions through electronic delivery channels.

The bank currently delivers 81 per cent of transactions through electronic channels, from automated teller machines (ATMs), interactive teller machines (ITMs) and call centers to internet banking and mobile banking solutions.

“We want to take the level of electronic transactions to 90 per cent in next three years, and we are launching another set of first-to-market digital banking services in the region through its [Emirates NBD’s] new mobile banking app,” said Suvo Sarkar, General Manager — Retail Banking and Wealth Management, Emirates NBD.

The bank on Wednesday launched a mobile cheque deposit facility on its revamped mobile app. The app also features a queue-busting feature that allows customers to get queuing tickets for branch transactions via their smartphones.

The bank claims that its mobile cheque deposit facility is a first in the Middle East, Asia and Africa.

Initially, the facility is offered to its private banking and priority banking customers to deposit a cheque (issued by Emirates NBD) via its mobile banking app. Customers can capture the image of the cheque and then upload it via the bank’s mobile app.

The launch of the new mobile banking app is in line with Emirates NBD’s multichannel transformation programme, designed to maximise efficiency and improve service delivery by optimising the bank’s distribution mix.

The bank said digital service delivery brings in massive cost savings as branch-based services could cost up to 20 times the cost of delivering a service through a digital channel.

With more than 36 per cent of its customer base now actively using digital channels to interact with the bank, the bank anticipates that the additional functionality will significantly improve operational efficiency within the bank. The new Emirates NBD mobile banking app is available for free on Apple’s App Store and Google Play.

Currently about 18 per cent of Emirates NBD customers use mobile banking and with a 30 per cent year-on-year growth in the number of users, the bank expects to achieve three million transactions this year.

As part of its expanding smart banking initiative, the bank plans to launch ITMs in five more locations this year.

“In the recent past, we have made significant investments in new technologies and launched an array of self-service digital-only products, resulting in significant adoption of the bank’s digital banking services among our customers,” said Ali Sajwani, Chief Information Officer, Emirates NBD.

The updated version of the mobile banking app offers more than 100 transactions. “We have also enhanced to the mobile banking app [to] include easy access to a relationship manager for priority banking customers. It also features widgets that can be personalised using smart shortcuts,” said Pedro Desousa Cardoso, Head of Multichannel and CRM, Emirates NBD.