Emirates NBD announces $136m digitisation plan
Digital plan to focus on process transformation, customer service, security, omnichannel, and analytics
Emirates NBD has announced plans for an AED 500 million ($136m) digital transformation strategy.
The banking group will launch a three-year program focused on digital innovation and multichannel transformation of processes, products and services.
The digitisation plan 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.
Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD said: "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 ‘smart' transformation in banking, in support of His Highness Sheikh Mohammed 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."
Shayne Nelson, Group CEO of Emirates NBD added: "We are making a commitment to the future with our digital transformation plan. Our focus on technology innovation and adoption to create digital-only products is creating a new paradigm in the way people bank in the UAE. 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."
The bank has also said that it plans to launch the first digital bank in the UAE targeted for ‘millennial' customers. The digital bank will is intended to provide self-service capabilities via digital tools and applications.