Emirates NBD Corporate & Institutional Banking launches digital Supply Chain Financing platform

  • First-of-its-kind digital supplier onboarding tool kit  
  • Smart financing solution to enhance supply chain collaborations between corporate clients and suppliers

Dubai: As part of its ongoing digitisation strategy, Emirates NBD, a leading bank in the MENAT (Middle East, North and Turkey) region has launched a digital Supply Chain Financing platform for its corporate and institutional clientele.

Emirates NBD’s smartSCF platform will offer businesses in the UAE a set of integrated, automated tools designed to enhance and simplify their supply chain collaborations while optimising working capital and reducing transaction costs. The platform enables clients to benefit from improved cash flow efficiencies while their suppliers benefit from early payment of their invoices, without the need for collateral and at competitive rates.

The smartSCF platform has been designed to help increase operational efficiencies for both corporate clients and their suppliers. Suppliers can seamlessly self-on-board via the digital supplier on-boarding toolkit, the first of its kind in the region. Furthermore, smartSCF has enhanced data analytics tools such as interactive dashboards and customised reports which helps clients gain visibility on the program from supplier on boarding to payment and reconciliation as well as their cashflows.

Emirates NBD’s smartSCF platform caters to the growing need for digitisation of supply chain management and financing, which has emerged as one of the key priorities for corporate clients across industries. 

Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking at Emirates NBD said: “As the country’s preferred corporate bank, we have gained in reputation as trusted providers of smart, innovative solutions that enhance the ease of doing business and support the UAE’s drive towards digitisation in all aspects of business. Our digital supply chain finance platform delivers on our commitment of enabling opportunities for corporate clients while optimising their working capital. We are pleased to offer businesses in the UAE a seamless, secure platform that offers them complete transaction visibility and payment flexibility, while enhancing their suppliers’ liquidity.”


About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th June 2020, total assets were AED 694 Billion, (equivalent to approx. USD 189 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands.

The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.

The Bank has operations in the UAE, Egypt, Turkey, the Kingdom of Saudi Arabia, India, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 944 branches and 4,262 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.

Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.

© Press Release 2020

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