Emirates NBD introduces e-letter solutions to set new milestone in e-banking

Press release

Published March 11th, 2013 - 10:43 GMT

Al Bawaba

Emirates NBD, a leading bank in the region, and The Emirates Group, announced today the signing of a Memorandum of Understanding (MoU), whereby the bank will provide a pioneering e-letter solution to the employees of the Emirates Group, enabling access to a speedier and more efficient processing of applications for all retail products. Suvo Sarkar, General Manager-Retail Banking, Emirates NBD, and Hussain Shaikh, Vice President-HR Employee Services, The Emirates Group, signed the MoU in the presence of senior officials from both organisations.

As per the terms of the MoU, Emirates NBD will now receive and accept electronically transmitted salary certificates and salary transfer letters from Emirates Group employees, reducing turnaround time on the credit applications process and enabling the bank to provide more efficient services to customers.

“Emirates NBD’s e-letter solution is in line with our strategic objective to provide customers with world class services, and meets the growing market demand for secure 24/7 e-banking services that can be accessed from anywhere,” said Suvo Sarkar. “Emirates NBD is proud to be the first bank in the region to launch this innovative and environmentally-friendly service, and we are delighted that our long-standing partner, the Emirates Group, will be the first to benefit from this service.”

“We are confident that e-letter will prove to be a new milestone in e-banking in the region as it eliminates the tedious process of obtaining a physical salary certificate or salary transfer letter, considerably reduces the margin of error and cuts short the process time for an application,” he added.

Available for all Emirates Group employees who apply for a personal, auto or mortgage loan from Emirates NBD, the e-letter solution will allow customers to meet their requirements within a shorter span of time. Emirates NBD also plans to extend the service to other clients in the near future.

“Innovation in service delivery is something we continuously strive for and especially when the service is meant for our own staff members. We produce thousands of bank related letters every month for our staff and wanted to integrate this service with the banks to make it a paperless and efficient process. Emirates NBD was the first bank to understand the significant benefits associated with this change and have collaborated with us to make this innovation happen,” said Hussain Shaikh, Vice-President HR Employee Services, Emirates Group.

“This new process will greatly assist the Emirates Group, Emirates NBD and more importantly our staff. This pioneering initiative fully supports the e-government initiatives of the Government of Dubai, and we are pleased to be the first organisation in the UAE to offer this exceptional service to our employees,” he added.

The service, which is enabled with fraud protection and provided in a secured manner, is in accordance with the applicable laws of the Government of Dubai, and ensures greater speed and efficiency of the loan application process through reduced paperwork.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.

Company Profile

The Emirates Group

The Emirates Group is a vast organisation with manifold business interests in the aviation, travel, tourism and leisure industries. Employing more than 50,000 people across its 50 business units and associated firms, it is one of the biggest employers in the region and offers specialist services spanning almost every aspect of the market.