Emirates NBD awarded the Best Transaction and Cash Management Bank at The Asian Banker Middle East & Africa Risk and Transaction Awards Programme 2018
Dubai, November 29th 2018- Emirates NBD was received the award for Best Transaction and Cash Management Bank at The Asian Banker MEA Risk and Transaction Awards 2018. The award ceremony was held in conjunction with the International Finance Dialogue, at Conrad, Dubai.
- Continued investments in channel and product development drove growth in Emirates NBD’s transaction business
- Technology infrastructure and scale of operations supported transaction banking service capabilities
- Initiated blockchain project for trade finance to enhance cross-border trade transactions
The MEA Risk and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
Standing from left: Foo Boon Ping; Managing Editor; The Asian Banker, Gordian Gaeta and David Gyori; Members of the International Advisory Council with Vijay Vashist; Head of Trade and Supply Chain; Sami Hammoud; Head of Cash Management Sales and Louis Robinson; Global Head of Business Development; Emirates NBD
Continued investments in channel and product development drove growth in Emirates NBD’s transaction business
Continued investment in enhancing product and service channels in meeting industry requirements drove growth in cash and trade values for Emirates NBD’s transaction business by 15% and 20%, respectively. With 24% market share in cash and 12% in trade, bank’s share of deposits grew more than double that of market’s growth rate. In addition to an extensive branch network, its smartBUSINESS, an online channel, enables customers to perform online transactions and gain real-time access to transactions in a secure environment. The Bank continued to invest in its online channel and supply chain solutions to improve customer experience.
Technology infrastructure and scale of operations were important transaction banking service capabilities
Emirates NBD future lab was established as a key digital initiative that enabled and accelerated the development of next generation digital and mobile banking services. It is both a testing centre and strategic think-tank for innovative ideas which is operated by in-house experts. Its online channel smartBUSINESS is also offered mobile which makes it capable of containing a large customer base and offering real-time opportunities for clients.
Initiated blockchain project for trade finance to enhance cross-border trade transactions
Emirates NBD partnered a blockchain initiative with Dubai Government entities such as Dubai Customs, Dubai Trade to process payments and record imports and re-exports passing through Dubai. It aimed at improving transparency and turnarounds times and reducing frauds. The Bank also became the first bank in the UAE to pilot a blockchain-based network to automate inter-bank processes of cross-border open account trade through smart contracts, secure digital exchange of documents and real-time monitoring of positions.
At the awards ceremony, Emirates NBD was named the Best Cash Management and Transaction Bank in UAE. Other winning institutions include Egypt’s National Bank of Egypt, South Africa’s ABSA Bank, Qatar’s Commercial Bank, Barclays Bank Mauritius among others.
For specific details relating to description of the awards, evaluation criteria and process,
kindly visit http://www.asianbankerawards.com/Middle-East-and-Africa-Awards/awards.php
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
For all Business Achievement Awards 2018 photos, please visit
https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156342028 179804
For more information please contact:
Mr. Foo Boon Ping
Managing Editor
Tel: (+65) 6236 6526
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