Dubai: Emirates NBD will invest Dh500 million over the next three years towards digital innovation and the multichannel transformation of its processes, products and services, the bank announced on Wednesday.
The bank also said it 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 bank said in a statement.
“We are making a commitment to the future with our digital transformation plan. This significant investment will drive further innovation and solidify Emirates NBD’s reputation as an innovation-led, customer-focused bank that is indisputably a market leader in the region,” said Shayne Nelson, Group CEO of Emirates NBD.
Both these initiatives will support the smart’ transformation in the UAE’s banking industry.
“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 ‘in support of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai’s vision of Dubai’s digital transformation into a benchmark modern city,” said Hesham Abdullah Al Qassim, Vice-Chairman and managing director of Emirates NBD.
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.
Emirates NBD has already launched major digital banking initiatives in support of the country’s ‘smart city’ vision. Emirates NBD is the only bank in the UAE to offer e-payment capabilities through all bank channels for over 25 major service providers, varying from telecom, utilities, transportation, card schemes, and education sectors, among others.
The bank has also introduced a series of digital banking services. Customers can perform over 100 transactions including making requests for new products and service via Emirates NBD’s online and mobile banking channels.
