Emirates NBD is set to launch a digital-only bank aimed at millennials as part of a wider AED500 million ($136 million), three year online and mobile transformation plan.
The bank’s investment will focus on five areas: end-to-end process transformation; smoother, faster and more responsive customer interface; omnichannel experience, fortification of cyber security and anti-fraud capabilities; and enhancement data management and analytics.
The new digit bank promises to be a ‘by the customer, for the customer’ initiative using digitisation and social input to develop the next generation of self-service money management tools.
Shayne Nelson, Group CEO, Emirates NBD, says: "We are making a commitment to the future with our digital transformation plan. Our focus on technology innovation and adoption to create digital-only products is creating a new paradigm in the way people bank in the UAE."