Emirates NBD has recorded a rush of corporate customers moving to digital channels as businesses respond to the UAE's #StayHome directives.
The UAE-based bank says corporate banking has witnessed a significant 60% month-on-month increase in digital on-boarding volumes as new and existing transaction banking clients opt for digital channels for their ongoing cash management and trade finance requirements.
The bank further reports that 96% of the corporate banking division’s payment volumes are now processed through its digital channels, as fully 70% of its corporate clients avail of its smartBusiness and smartTrade portal.
Ahmed Al Qassim, EVP, general manager of corporate banking at Emirates NBD, says: “The UAE is a key international trade hub and it is encouraging to see UAE companies focused on business continuity as they respond to the ongoing market dynamics around Covid-19 by migrating to digital ways of conducting business."