Emirates NBD Wholesale Banking wins ‘UAE Domestic Cash Management Bank of the Year’

Press release

Published July 29th, 2015 - 09:48 GMT

Al Bawaba

Emirates NBD, a leading bank in the region, announced today that its Wholesale Banking Division has been awarded ‘UAE Domestic Cash Management Bank of the Year’ at the fourth annual Asian Banking and Finance Awards for Wholesale Banking.

The bank was recognised for its extensive client base of business entities on the web as well as mobile channel, ‘smartBUSINESS’, which offers UAE-based corporate customers 24/7 account information and transaction access to a comprehensive cash management product suite encompassing payments, collections, trade and liquidity management services.

The award was presented to Samir Sahu, Executive Vice-President, Group Transaction Banking, Emirates NBD at a prestigious award ceremony held recently in Singapore by Asian Banking and Finance magazine. The ceremony honoured achievements in Retail and Wholesale banking across Asia and was attended by 200 bankers from over 30 countries.

Commenting on the awards, Jonathan Morris, General Manager - Wholesale Banking at Emirates NBD said, “Wholesale Banking at Emirates NBD has distinguished itself as a clear market leader by identifying gaps and needs in the market and introducing innovative banking solutions that provide our customers an enriched banking experience. Our smartBUSINESS app and online platform leverage technology to provide corporate customers ready access to transactions and we are delighted to receive recognition from industry peers.

“Digital solutions are a key differentiator in the business space and we are at the forefront, continually developing new products and services for the business community.”

The smartBUSINESS mobile app, is available on Apple and Android platforms. Customers using the smartBUSINESS mobile app or the smartBUSINESS online platform can perform a range of banking transactions on-the-go, including utilities and salary payments, local and international funds transfers and tracking of transaction status in real time.

The wholesale bank has recently introduced another technology-based innovation, ‘ICCS collect’, a fully integrated remote cheque deposit solution designed for business, which has been very well received.

Nominations for the Asian Banking and Finance awards are judged by a team of chosen experts in the field of banking and finance using a stringent evaluation process. The most innovative projects and the best practices in Asia's wholesale banking sector are determined using a balanced and transparent scorecard.

Background Information

Emirates NBD

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.