Emirates NBD launches contactless processing

Business Bureau, Gulf Today

As part of its ongoing digitisation strategy, Emirates NBD, a leading bank in the region, has further enhanced its trade portal, smartTRADE, by introducing smartCollections, a new service that enables completely contactless processing of Export Collections. This new digital service aligns with the bank’s commitment to support clients’ business continuity via safe, seamless operations during the ongoing COVID-19 situation.

Emirates NBD’s smartTRADE clients can access smartCollections from the safety of their homes or offices, to submit an Export Collections request. Documents can be safely uploaded on the trade finance portal, with real time updates on transaction status, thus completely avoiding the need to visit a bank counter. Once the transaction is processed by the bank, clients will receive the Export Cover Schedule digitally, enabling them to directly submit it to their counterparty’s bank, in a completely contactless transaction.

Commenting on the new smartCOLLECTION service, Ahmed Al Qassim, Executive Vice President, General Manager of Corporate Banking at Emirates NBD, said, “As a digital frontrunner in the region’s banking sector, Emirates NBD continues to enhance its comprehensive suite of products and services to make customers’ lives simpler. Innovation is only meaningful when it solves real world problems - and as their transaction banking partner of choice, our smartTRADE clients are counting on our support and innovative solutions to continue their operations seamlessly, amid the evolving global COVID-19 pandemic.