Friday, 19 April 2024

Best Transaction Bank in Middle East and Africa - First Abu Dhabi Bank

5 min read

By The Asian Banker

A host of innovative solutions coupled with strong mandate servicing capabilities for corporates, merchants and fintech customers sustains this bank’s global transaction business franchise. The cost-effective next-generation virtual account management solutions enabled by application programming interfaces (APIs) for stored value facilities industry and mobile wallet service providers helped them to meet their business objectives with improved user experience. An intuitive digital cheque deposit solution enabled through its corporate mobile app for both on and off the bank has not only reduced client service handling request, as customers can upload and view the status of their cheque processing conveniently. The electronic direct debit and electronic invoice presentment and payment solution for billers and merchants automate direct debit processes to collect payment and present invoices to their payers and view all incoming transactions on a detailed dashboard. It implemented a global virtual account management solution to rationalise accounts for a large airline customer across its operations in US, Europe and Middle East and North Africa (MENA). The bank is now the customer’s primary cash management services provider and holistically covers solutions from payments, payroll, collections and liquidity management along with global cash centralisation. 

For its innovative transaction banking solutions, the award for Best Transaction Bank in Middle East and Africa goes to First Abu Dhabi Bank. 


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