Dubai – Mubasher: Emirates NBD, listed on the Dubai Financial Market (DFM), on Wednesday announced it has introduced a digitised payment solution for the Dubai Department of Finance (DoF).
The new solution will enable the two parties to achieve full host-to-host (H2H) integration of all payment processes through the bank’s smartBUSINESS Connect solution, according to a press release.
The service, implemented by the bank’s Transaction Banking unit, will guarantee flexible and secure messaging between the two organisations for day-to-day banking operations that will help DoF save time, costs, and resources.
This eco-friendly system, executed in line with Dubai Paperless Strategy 2021, will provide both Emirates NBD and the DoF with real-time data on transactions, saving big quantities of paper on an annual basis.
Emirates NBD’s smartBUSINESS Connect will allow the DoF to perform automated and secured outgoing payments with simultaneous transfer of payment data and approvals.
Jamal Hamed Al Marri, executive director of central accounts sector at DoF, said: “Our fruitful cooperation with Emirates NBD is aimed at reducing the burden and workload on employees, saving on financial resources and reducing paper waste, as well as enhancing security and speed of work. We are keen to continue looking at advancing our relationship with the bank in the future.”
For his part, Ahmed Al Qassim, executive vice president and general manager of corporate banking at Emirates NBD, said: “Emirates NBD is at the forefront of driving technologies to digitise clients’ processes, bringing greater efficiencies in their day-to-day operations and making banking smoother, faster and more secure.”
