Best Trade and Supply Chain Finance Bank in the UAE - Emirates NBD Bank PJSC
In a market concentrated on remote and digital document handling solutions, this winning bank stood out for strong growth in financial metrics, significant utilisation of its trade platform vis-à-vis peers, invoice digitisation, digital supplier onboarding and smart supply chain finance solutions. The rebound across trade business volumes, revenue and the number of customers utilising its supply chain finance programmes, led the bank to acquire a quarter of the market for regular letter of credits (L/Cs). SmartGuarantees, a digital inward guarantees management solution reduces overall processing time for customer requests by 80%. It is the first bank in UAE and GCC to launch a digital supplier onboarding toolkit for payables finance that enables onboarding of suppliers to the programme within minutes. Moreover, its trade portal saw a 47% growth in transactions, as more customers migrated to the platform.
Given these initiatives which accelerate its customers’ journey to digital, the Best Trade and Supply Chain Finance Bank in United Arab Emirates goes to Emirates NBD.