By Staff writer
Dubai's largest bank says new initiative will act as testing centre for new innovative banking ideas
Emirates NBD, Dubai's biggest bank, has announced the creation of the Emirates NBD Future Lab, a key initiative of its digital strategy that will enable and accelerate the development of next generation digital and mobile banking services.
The bank said in a statement that the lab will act as a strategic think tank in addition to being a testing centre for innovative ideas, products and services for the bank’s retail and wholesale banking customers.
Managed and operated by an in-house team of business and technology experts, Emirates NBD Future Lab™ will focus on three specific areas including digital services, self-service and process innovation.
Abdullah Qassem, group chief operating officer at Emirates NBD 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.”
In its first year, Emirates NBD Future Lab will collaborate with existing partners and clients in the private and public sector as well as identify Fintech innovators to create pioneering concepts for prototyping.
Key project areas will include future banking solutions to shape the experience of the UAE’s banking customers incorporating ideas driven by technology and influenced by current and future market trends.
The bank said the lab is aligned with its recent AED500 million commitment over the next three years to further digital innovation and the multichannel transformation of its processes, products and services.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
ENBD should invest in proper customer service for their existing customers, and regular training of their staff. After giving them four years to do better, I'm now taking my business elsewhere, to a bank where it's valued and I'm treated like a customer, not like a hostage!