Regional Bank Launches a Supply Chain and Trade Finance Online Tool25. September 2019
Emirates NBD, one of the leading banks in the region, has launched smartTRADE, a new portal catering to supply chain and trade finance customers, as part of the bank’s smartBUSINESS channel.
The enhancement is part of Emirates NBD’s ongoing AED 1 billion digital transformation strategy focused on digitising operations, products and services to further enhance the bank’s market-leading proposition for corporate and retail clients.
smartTRADE offers Emirates NBD Transaction Banking clients a comprehensive range of new functionalities, allowing them to submit all trade requests online – such as letters of credit, guarantees, trade loan requests and more – enjoying reduced paperwork requirements and a shorter turnaround time in the process. The revamped portal makes it easier for clients to obtain trust receipt financing by allowing them to submit a request instantly online instead of visiting a bank branch.
In addition, clients will get real time updates on the status of their transactions through email and SMS notifications. Clients will also be able to make more informed decisions about their trade finance requirements, thanks to easy access to historical data, dashboards and other information on the smartTRADE portal.
Commenting on the announcement, Sumit Aggarwal, Executive Vice President and Group Head – Transaction Banking Services (TBS), Emirates NBD, said:
“Emirates NBD’s smartTRADE will further consolidate our standing as the transaction banking partner of choice for all trade finance requirements in the UAE. The upgrades to the platform will further enhance our proposition to Transaction Banking clients, allowing them to conduct all trade finance transactions from the convenience of their home or office, without having to visit a branch.”
Featured image credit: Emirates NBD