Emirates NBD showcases pioneering vision for future of banking with the launch of API developer portal
Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has launched the region’s most comprehensive and ready-to-use financial Application Programming Interface (API) developer portal ‘Emirates NBD API Souq’, providing FinTechs, developers and corporate clients with an all-in-one ecosystem to rapidly develop innovative financial solutions.
The portal grants developers access to a wide range of ready-to-use suite of Emirates NBD APIs across the six key categories of account services, payments, collections, real-time notifications, trade services and information services, with a plan to multiply the APIs offered on the portal in the coming months. The seamless integration with the bank and ease of use of the portal allows developers to rapidly identify, test and integrate APIs into their products and services in a highly secure environment.
APIs are a set of pre-defined functions that facilitate data transfers between third parties and the bank’s systems in a secure environment, allowing third party companies to augment their complementary specialties and offerings without having to toggle between the banking system and their Enterprise workflow.
The introduction of Emirates NBD’s developer portal further strengthens the Bank’s existing API Banking proposition, which was launched last year to advise clients on how APIs can support their business needs. The portal enhances the existing service by allowing Emirates NBD, its clients and developers to directly create protocols that will improve operational efficiencies, facilitate real-time updates and enhance data driven decision-making. The portal also boasts of categorized Emirates NBD API resources, comprehensive API technical documentation and ‘Sandbox’ capabilities for secure integration.
Commenting on the announcement, Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said: “As a digital pioneer that has led innovation in the region’s banking sector, at Emirates NBD Group, we continuously seek opportunities to bring groundbreaking technology advancements to the financial services industry and serve our customers, people and communities in innovative ways. Today, APIs are at the core of our Open Architecture and play a significant role in our digital strategy and leveraging our API-based architecture and experience, we are now collaborating closely with our customers to help them embrace this technology to optimize their business processes.”
Ahmed Al Qassim, Group Head of Corporate and Institutional Banking, said: “The launch of the Emirates NBD API developer portal reinforces our commitment towards providing comprehensive solutions that cater to the increasingly sophisticated business needs of our clients. In today’s rapidly evolving business environment, our clients are looking for instant payment facilities, e-commerce support models, direct-to-consumer flows and real time banking solutions. Emirates NBD’s open banking proposition, along with our strong FinTech partnership model, provides all these services and more, helping our clients navigate the transforming industry landscape and supporting them in achieving their vision.
He added: “Driven by a comprehensive digital transformation roadmap and the Fourth Industrial Revolution Strategy, the United Arab Emirates boasts one of the highest levels of digital adoption in the world. Emirates NBD’s digital transformation strategy remains fully aligned to the UAE’s vision of harnessing advanced technology to accomplish sustainable long-term growth. We will continue to introduce innovative technology and collaboration opportunities that will drive technological adoption for the benefit of our clients and their customers. “
The developer portal is accessible through the Emirates NBD API
Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.