Emirates NBD has put a strong focus on digital and mobile banking for its private banking clients and wider customer base in 2022.
The judges are impressed by the bank’s “digital enhancements in online and mobile banking, digital advice and seamless digital services”. Its mobile-first approach to digital banking is proving popular with clients.
As of 2022, around 63% of the bank’s clients used digital banking, and of those around 95% were accessing it through mobile phones.
The private banking division has been able to leverage the wider bank’s innovative approach to digital, led by its CIO office.
The bank launched a number of digital products, services and initiatives in 2022, including: Emirates NBD Pay, digital onboarding for NBD securities and IPO subscription, and a global accelerator programme for metaverse startups – proof the bank is charging into the digital space.
These digital initiatives have been used to enhance their offering for private-banking clients by giving digital access to services such as investment advisory, trade execution, discretionary portfolio management, Lombard lending, trust and estate planning and real estate advisory. All of it alongside the in-person teams.
This year will be the start of a new era for Emirates NBD’s wealth management division
“Emirates NBD continues to be nimble and innovate continuously to maintain a leading position in private banking and wealth management in the region,” notes one judge. “They effectively used their presence and operational capabilities to capture the growing business in the region.”
This year will be the start of a new era for Emirates NBD’s wealth management division. Marwan Hadi, currently head of retail banking UAE, is set to take over the reins as group head of retail banking and wealth management from Suvo Sarkar, who is retiring after almost a decade in the role. Marwan joined the bank in 2019 as head of retail banking for UAE and before this was head of retail banking and wealth management UAE at HSBC.
