NBAD invests in WAP banking services
National Bank of Abu Dhabi is the latest of the UAE’s major local banks to jump on to the Internet bandwagon, with the announcement that it is set to deploy Infosys’ BankAway Web banking solution.
National Bank of Abu Dhabi (NBAD) has become the latest of the UAE’s major local banks to jump on to the Internet bandwagon, with the announcement that it is set to deploy Infosys’ BankAway Web banking solution.
The platform will form the basis of a new set of e-banking services NBAD intends to launch later this year.
“To keep pace in this new business paradigm and to meet customer expectations, we decided to offer a broad spectrum of e-banking services to our customer,” said Robert Rayment, chief financial officer, NBAD.
The BankAway platform is Wireless Application Protocol (WAP) enabled, and comes bundled with a WAP server.
“WAP is going to be a key driver of mobile commerce across the globe in the next two years,” said Grish Vaidya, senior vice president and head of the business-banking unit, Infosys.
“Every product and service that is being e-enabled will definitely have to be m-enabled, otherwise the value proposition it can offer will be limited.”
NBAD plans to offer services in both the retail and corporate segments of its business as a result of the deal.
The retail side will see services such as direct access to account information and bill payment capabilities.
Corporate will get trade finance products and financial management products.