• Among Emirates NBD’s latest mobile banking innovations are: Shake n’ Save account that seeks to engage customers in banking through an enhanced mobile user experience; DirectRemit for mobile transfer of funds to international recipients; and mePay, which accounts holders can use to instantly transfer funds via mobile numbers instead of account numbers
• Emirates NBD has invested heavily I technology to enhance its retail product offerings and gained new customers
• Using a combination of smart phone features mobile application and local information, banks have the ability to know what the customer is doing in real-time and pitch the appropriate products at the right time

Emirates NBD occupies a large share in the UAE retail banking market. The bank reported its highest retail revenue in 2016 at AED6.1 billion ($1.65 billion). While the average growth of deposits is 1.6%, Emirates NBD’s deposits grew twice as fast at 3.4%, highlighting its ability to counter the slowing economy and liquidity crunch that has plagued the region. This it has done through leveraging the low costs of deposits to improve the margins on retail products such as credit cards and auto loans. 

Personal banking is the bank’s largest segment, serving over one and a half million customers and providing services across the mass and affluent customer bases. The consistent growth in the bank’s retail revenue demonstrates its strength in the retail market (Figure 1). Through the past five years, the bank has achieved a net growth of 50% in its retail revenue. 2011 marked the year that Emirates NBD enhanced its investment in technology to improve the efficiency of products and operations.

Emirate...