Emirates NBD unveils global digital transaction banking ecosystem: businessONLINE

  • Group-wide platform offers companies single view across all their markets
  • Seamlessly integrates with multiple technology partners such as SAP 
  • Co-created with clients to enhance client experience
Ahmed Al Qassim, Senior Executive Vice President, Group Head, Corporate and Institutional Banking, Emirates NBD

Dubai, UAE: Emirates NBD, a leading bank in the Middle East, North Africa and Turkey (MENAT) region and a front-runner in digital banking solutions, has unveiled its next-generation global corporate banking platform, ‘businessONLINE’. 

The Group-wide, single instance, omnichannel platform delivers a full suite of cash management, trade finance and liquidity management solutions to the bank’s clients – ranging from small and medium sized businesses to large corporations and government institutions. businessONLINE has been built to simplify working capital management, streamline complex operations and offer businesses full visibility across financial relationships, accounts, and activities, delivering a single view across all their markets. Clients can undertake cross-border transactions seamlessly, access a consolidated view of their balances across regions and currencies, and make the most of tailor-made advice for their business needs. 

businessONLINE addresses the inconvenience and potentially high costs associated with maintaining separate system interfaces by offering seamless integration with multiple technology partners. This aggregation model provides businesses one-stop access to several banking products. One such example is the Enterprise Resource Management (ERP) solution, powered by leading technology provider SAP, which allows businessONLINE to support all operational requirements of small to medium sized businesses. It enables them to stay on top of their operations and cash flow through a suite of services that covers accounting, sales, inventory, purchasing, CRM and more.

The omni-channel platform offers a superior client experience formulated through co-creation with more than 3,000 corporate and business clients, whose feedback was gathered through online surveys, face to face interviews and detailed workshops. Predefined customer journeys and personas of various corporate scenarios were enhanced using design thinking workshops, which helped in creating persona led- dashboards and intuitive navigation. Among its key features is a widget-based dashboard that provides contextual and relevant information to corporate treasurers including net position, accounts summary view, FX positions, facility utilization, exchanges and interest rates. 

The platform also provides enriched data such as detailed account statements, customizable reports, real time alerts and notifications and online transaction advice download.

“businessONLINE positions Emirates NBD at the vanguard of corporate banking,” said Ahmed Al Qassim, Senior Executive Vice President, Group Head, Corporate and Institutional Banking, Emirates NBD. As the region’s digital banking leader and trusted provider of smart business-friendly solutions, we are pleased to support our corporate and business clients with a single-window, seamless, secure and agile platform to support all their banking needs, across geographies.” 

Al Qassim continued, “The platform has been built based on extensive user feedback and incorporates ERP business solutions from SAP to create an offering that truly responds to our clients working capital management requirements, in addition to supporting the UAE’s drive towards digitisation in all aspects of business.”

“Amid the challenges of COVID-19, Emirates NBD continues to demonstrate global best practices in how banking and financial firms can leverage digital transformation to enhance business processes and customer experiences,” said Robert Cummings, Global Head of IBU Financial Services, SAP. “And now by providing SMEs with the innovative SAP Business ONE solution, Emirates NBD’s customers can enhance their operations, gain full visibility across business functions with real-time insights, and scale up for the next wave of digital innovation.”

About Emirates NBD:

Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th September 2020, total assets were AED 692 Billion, (equivalent to approx. USD 188 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands. 

The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.

The Bank has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 925 branches and 4,115 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.