Emirates NBD Securities, one of the leading brokerages in the UAE, has become the first securities brokerage to launch an end-to-end digital onboarding process.
The newly launched platform allows more than 1 million Emirates NBD customers to start trading instantly amid increased demand for stocks and a robust pipeline of initial public offerings on the Dubai Financial Market (DFM).
The end-to-end digital process offered by the platform enables Emirates NBD customers to instantly acquire a DFM investor number (NIN) and Emirates NBD Securities brokerage account.
According to the statement, “In three simple steps, users can now begin their trading journey and receive their trading account details and DFM NIN within minutes, eliminating the need to print, sign, scan, and e-mail documents.”
The upgraded platform replaces paper-based processes with a fully digitized brokerage account opening experience, providing investors with access to the DFM.
“We are delighted with the accelerating pace of innovative solutions’ offering from our leading members, with Emirates NBD Securities at the forefront. Digital transformation is an integral part within DFM’s efforts to investors’ onboarding experience and market accessibility. We look forward for further cooperation with Emirates NBD Securities to reinforce DFM’s digital transformation strategy and to further enhance our investor base of local and international investors.”
The improved onboarding process also provides access to other regional exchanges, advanced trading platforms, and mobile apps, as per the statement.
In March, Emirates NBD Group launched an end-to-end IPO subscription website for individual investors with real-time subscription payment capabilities for UAE investors and wire transfer capabilities for non-UAE investors.
The new seamless onboarding process complements this initiative by providing instant access to IPO subscriptions and is part of a strategic collaboration with DFM to enhance its investor base.
Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking at Emirates NBD Group, said, “For the first time, investors can take advantage of a seamless and fully digitized account opening process, allowing them to start trading instantaneously and track the performance of their portfolio in real-time.”
“We are confident that efforts by our fast-growing securities brokerage arm to remove the barriers to trading will increase the flow of capital into regional markets, enhancing market liquidity and reinforcing the Emirate’s position as the region’s leading financial center and hub for technological innovation,” Mr. Al Qassim added.