Emirates NBD has unveiled plans to invest AED500m ($136 million) over the next three years to enhance its digital capabilities.
The bank will spend the money on five main areas that include end to end process transformation; faster and more responsive customer interface; omnichannel experience, improvement of cyber security and anti-fraud capabilities; as well as improvement of data management and analytics.
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The bank also announced plans to launch the first digital bank in the UAE. Aimed at millennials, the new bank will deliver the next generation of self-service money management with useful tools and applications.
Emirates NBD group CEO Shayne Nelson said: "We are making a commitment to the future with our digital transformation plan. Our focus on technology innovation and adoption to create digital-only products is creating a new paradigm in the way people bank in the UAE.
"This significant investment will drive further innovation and solidify Emirates NBD’s reputation as an innovation-led, customer-focused bank that is indisputably a market leader in the region."
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