Next-gen global corporate banking platform launched by Emirates NBD

By Rahul Vaimal, Associate Editor
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Emirates NBD
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Emirates NBD, the leading bank in the Middle East, North Africa and Turkey (MENAT) region and a leader in digital banking solutions, has unveiled its next-generation global corporate banking platform named ‘businessONLINE’.

The Group-wide, single instance, omnichannel platform delivers a full suite of cash management, trade finance and liquidity management solutions to the bank’s clients ranging from small and medium sized businesses to large corporations and government institutions.

businessONLINE has been designed to simplify the working capital management, streamline complicated processes and provide complete visibility to companies through financial relationships, accounts and activities, offering a single viewpoint across all their markets.

Customers can effortlessly make cross-border transactions, access a consolidated view of their geographic and currency balances and make the most of tailor-made advice for their business needs.

businessONLINE eliminates the inconvenience and potentially high costs associated with maintaining separate device interfaces by providing seamless integration with various technology partners. This aggregation model offers one-stop access to many banking products for enterprises.

One such example is the Enterprise Resource Management (ERP) solution, which is driven by leading technology providers SAP, which allows businessONLINE to support all operational needs of small and medium businesses. This helps them to remain on top of their activities and cash flow across a suite of services that include accounting, sales, inventory, buying, CRM (Customer Relationship Management) and more.

The omnichannel platform provides a superior customer experience built through co-creation with more than 3,000 business and corporate customers, whose feedback has been collected through online surveys, face-to-face interviews and interactive workshops.

Its main feature is a widget-based dashboard that provides corporate treasurers with contextual and relevant information, including net position, accounts summary view, FX locations, facility utilization, exchanges and interest rates.

Enriched data such as accurate account statements, customizable reports, real-time updates and notifications and downloading of online transaction advice are also supported by the platform.

Ahmed Al Qassim
Ahmed Al Qassim
Senior Executive Vice President & Group Head
Corporate & Institutional Banking
Emirates NBD

“businessONLINE positions Emirates NBD at the vanguard of corporate banking. 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. The platform has been built based on extensive user feedback and incorporates ERP business solutions from SAP to create an offering that truly responds to our clients working capital management requirements, in addition to supporting the UAE’s drive towards digitization in all aspects of the business.”

Robert Cummings, Global Head of IBU Financial Services, SAP said, “Amid the challenges of COVID-19, Emirates NBD continues to demonstrate global best practices in how banking and financial firms can leverage digital transformation to enhance business processes and customer experiences.”

“And now by providing SMEs with the innovative SAP Business ONE solution, Emirates NBD’s customers can enhance their operations, gain full visibility across business functions with real-time insights, and scale-up for the next wave of digital innovation,” further added Mr. Robert.