Emirates NBD and Nium’s New Strategic Partnership in The UAE
In a groundbreaking move set to redefine financial services in the Middle East, Emirates NBD, a prominent banking group in the MENAT region, has forged a strategic partnership with Nium, the global leader in real-time cross-border payments. This alliance aims to transform the international payments landscape, particularly remittances from the UAE to destinations worldwide.
BREAKING NEWS: Nium has partnered with @EmiratesNBD_AE . Forged at a signing ceremony at @DubaiFinTechSum today, the partnership will elevate the remittance experience between the UAE and countries worldwide.
Seizing Opportunities in Cross-Border Transactions
The core objective of this partnership is to enhance the remittance experience by offering seamless, instantaneous, and cost-effective cross-border transfers. With its burgeoning expatriate population and thriving cross-border trade, the UAE has seen a significant demand for efficient payment solutions. Using Nium’s advanced payout services, Emirates NBD is poised to provide customers with unparalleled transaction reliability and speed.
Visionary Leadership
Emirates NBD, top 5 bank in Middle East will now be powered by NIUM for cross border real-time payments. As a 8th year founder I continue to be excited that NIUM continues to be the rare platform which can manage payments for large global banks and non banks globally. pic.twitter.com/C8IaYYIVyx
Prajit Nanu, Co-Founder and CEO at Nium, highlighted the strategic importance of the Middle East market, stating, “The Middle East is a key market for us, and we have been doubling down on expansion in the region.” By partnering with Emirates NBD, Nium aims to extend its presence into the heart of the Middle East, leveraging the bank’s trusted reputation and extensive reach. This collaboration signifies a pivotal moment in the global digital banking industry, with Emirates NBD positioned at the nexus of vast financial movements.
Marwan Hadi, Group Head of Retail Banking & Wealth Management at Emirates NBD, echoed the sentiment of innovation and excellence driving this partnership. He emphasised the bank’s commitment to embracing cutting-edge technologies to deliver seamless global transactions to customers. The collaboration between Emirates NBD and Nium underscores a shared vision of pushing boundaries and driving forward the evolution of financial services in the region.
Breaking new ground in financial services together during the Dubai FinTech Summit 2024. We are pleased to announce our partnership with NIUM to revolutionize cross-border payments in the Middle East. This strategic (cont) https://t.co/MUndItAM0Dpic.twitter.com/V7OTWdnEXg
A recent white paper titled “Payments in the Middle East: The next frontier,” launched by Nium sheds light on the immense potential of the region’s fintech ecosystem. With trillions of dollars flowing through the Middle East annually, there is a clear opportunity for growth and innovation in the payments landscape. The paper advocates for regulatory harmonisation and strategic partnerships between banks and fintechs to unlock the full potential of the region’s financial sector.
Conclusion
In conclusion, the partnership between Emirates NBD and Nium represents a significant milestone in the evolution of cross-border payments in the Middle East. By leveraging their expertise and capabilities, both entities are poised to redefine the remittance experience, driving greater efficiency, reliability, and accessibility for customers. As the region embraces digital transformation and innovation, collaborations like this will play a pivotal role in shaping the future of financial services, not just in the Middle East but on a global scale.
About Nium
Nium, positioned as the leader in real-time cross-border payments, is dedicated to shaping the future of global payments infrastructure. With a network spanning over 190 countries and supporting 100 currencies, Nium’s platform enables instant fund transfers across borders. The company holds regulatory licenses in more than 40 countries, facilitating seamless integration and compliance. Headquartered in San Francisco and Singapore, Nium is at the forefront of revolutionising cross-border payments globally.
About Emirates NBD
Emirates NBD, a leading banking group in the MENAT region, boasts a strong presence across 13 countries, serving over 9 million active customers. With total assets exceeding AED 900 billion, Emirates NBD is committed to delivering innovative banking solutions to individuals, businesses, and institutions. The group’s emphasis on digital banking and sustainability aligns with its vision of contributing to a sustainable future. Through strategic partnerships and cutting-edge technologies, Emirates NBD continues to shape the future of banking in the Middle East.
