Emirates NBD is one of the largest banking group in the Middle East. The bank is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.
Here is how Emirates NBD leveraged market forces as building blocks to achieve a comprehensive vision for transforming into a truly digital organization.
A core platform is the central nervous system of a bank’s operations. Combine a core migration with a merger of two large financial institutions, and the challenge becomes exponentially greater. This was where Emirates Bank International (EBI) and the National Bank of Dubai (NBD) found themselves in 2007, when, by government mandate, the banks were required to merge business lines and form one institution. Emirates NBD was born out of this merger.
With Infosys Finacle, Emirates NBD set a model for how a core migration and a merger can vastly improve business operation, and how a new core environment can drive growth for the future. The Emirates NBD core migration and merger, in itself, was a resounding victory:
Emirates NBD core transformation recognized as a Celent Model Bank 2012
Finacle has been the solution of choice for the group’s organic expansion into countries like Saudi Arabia, London, Singapore, Egypt and India. When the Emirates NBD Group acquired BNP Paribas Egypt as part of their growth strategy, they decided to upgrade all legacy systems in line with the unified business and technology standards of the group with Finacle Universal Banking Solution.