Emirates NBD has established Future Lab to accelerate the development of next generation digital and mobile banking services in the UAE.

The lab will act as a ‘strategic think tank’ in addition to being a testing centre for ideas, products and services for the bank’s retail and wholesale banking customers, the bank said.

Managed by an in-house team of business and technology experts, the lab will focus on exploring a digital-first approach to banking, enhancing the user friendliness and engagement value of digital products and services, and optimising and aligning internal processes to achieve operational efficiency.

In its first year, the lab will join forces with existing partners and clients in the private and public sector and identify fintech innovators to create pioneering prototyping concepts.

Emirates NBD group COO Abdullah Qassem said: “Emirates NBD Future Lab will be the foundation of all that we innovate, create and test in our digitisation process. Housed with a team of innovators and technical experts, the lab’s key goals will focus on developing personalised consumer-centric offerings that will seamlessly integrate with our advisory services.

“The lab will essentially be the home of innovation at Emirate NBD and undoubtedly cement our position as the region’s digital leader in banking.”