• Continued investments in channel and product development drove growth in Emirates NBD’s transaction business
• Strategic industry relationships to counter volatility in trade flows
• Focus on making payment experience seamless

 

Dubai, November 29th 2018- With an audit based approach from 2018, the recipients of the MEA Risk and Transaction Awards were assessed through a stringent evaluation process comprising surveys, interviews and field research by The Asian Banker’s research staff.

Continued investments in channel and product development drove growth in Emirates NBD’s transaction business

For delivering twice the growth in deposits relative to the industry, and migrating 97% of its customer base to SMART business, the online channel for corporate clients,Emirates NBD was recognised as Best Cash Management and Transaction Bank in Middle East and Africa at The Asian Banker MEA Risk and Transaction Awards Programme 2018. A 12% drop in cash deposits and a 109% rise in electronic cheques, reflects the seriousness of its commitment to digitalise key aspects of its transaction business. Continuing to make investments into channel and product capabilities to meet end-to-end market requirements, the bank launched the Future Lab to accelerate the pace of smart service adoption in UAE. With strong processing capabilities achieved through robotics processing automation (RPA), the bank reported 84% STP for all transactions.

Strategic industry relationships to counter volatility in trade flows

Taking note of heightened volatility in trade flows on account of certain geopolitical events, banks across Middle East and Africa leveraged their existing correspondent networks and in-house servicing capabilities to cushion revenue slowdown in trade business.

Drawing its competitive advantages from...

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Keywords:Payments, Trade Finance, Cash Management, Transaction Services