The new omnichannel platform will deliver a full suite of cash management, trade finance and liquidity management solutions to the bank’s clients
Digital banking pioneer Emirates NBD, a major player in the Middle East, North Africa and Turkey (MENAT) region’s banking sector, has introduced businessONLINE, its groundbreaking, next-generation global corporate banking platform.
The new addition to their repertoire is a single instance, group-wide, omnichannel platform, which has been developed to provide an all encompassing set of trade finance, cash and liquidity management solutions.
The solutions of businessONLINE cater to a varied set of Emirates NBD clients that included not only small and medium-sized businesses but also large corporations and government institutions.
Emirates NBD’s new global digital transaction banking ecosystem will be streamlining complex operations while simplifying working capital management.
Moreover, it will help in generating transparency to businesses in their accounts, activities and financial relationships.
The new banking platform also facilitates seamless cross-border transactions for the clients besides providing a consolidated view of their balances across currencies and regions.
businessONLINE’s additional features include seamless integration with multiple technology partners to deal with potentially high costs and other hassles that arise with maintaining separate system interfaces. On the whole, the aggregation model provides bespoke advice to clients on all their business requirements, resulting in its emergence as a one-stop solution for several banking products.
The Enterprise Resource Management (ERP) solution is a great example of it being such a one-stop solution. Powered by leading technology provider SAP, ERP empowers businessONLINE to fulfil all operational requirements of small to medium-sized enterprises. It is also equipped with an armory of services covering sales, accounting, purchasing, inventory and CRM, which assists the omnichannel platform in managing its operations and cash flow.
Finally, businessONLINE’s extra benefits include enhanced data in the form of online transaction advice download, customisable reports, detailed account statements, and real-time alerts and notifications.
Emirates NBD corporate and institutional banking group head and senior executive vice-president Ahmed Al Qassim said: “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.”
In June this year, Bank of America reportedly acquired a stake of 1.51% in Emirates NBD, a Dubai government-owned bank, for AED900m ($245m).