The report says businessONLINE will work to “provide an all encompassing set of trade finance, cash and liquidity management solutions.”
The service will help to streamline operations, help with transparency and facilitate “seamless” cross-border transparency, the report says, providing a view of the company’s balances across several currencies and regions.
Some of the features include integration with numerous technology partners to help with high costs and other difficulties with separate system interfaces. The aggregation model works to provide advice for clients on business requirements to help enact a one-stop shop for banking products.
Emirates NBD corporate and institutional banking group head and senior executive vice-president Ahmed Al Qassim said, “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.”
Powered by SAP, the program comes with “an armory” of services for things including sales, accounting, purchasing, inventory and CRM, all going toward the omnichannel functionality. In addition, the product offers enhanced data through online transaction advice download, customizable reports, detailed account systems and real-time notifications and alerts, the report says.
CIO Miguel Rio Tinto spoke with PYMNTS recently, saying that the best approach to digitizing a company’s processes, instead of incremental and gradual shifts to digital, could instead be a complete overhaul including both technological improvements and a change in the way a bank is actually viewed.
To Rio Tinto, the focus should be on remaining competitive through speed and a focus on technology. Speed especially should be the emphasis, he said, with faster developments and integrations, and a realization that a bank is now a “technology company.”