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Emirates NBD launches digital postdated cheque facility

dubai - Corporate customers can now scan postdated cheques and digitally warehouse these images until the date of clearance

Emirates NBD has announced that its wholesale banking unit has introduced a postdated cheque facility, through smartBusiness, its online banking channel.

Corporate customers can now scan postdated cheques through 'ICCS Collect', the collections offering on smartBusiness, and digitally warehouse these images until the date of clearance. ICCS Collect provides an efficient online cheque deposit tracking system, auto generated reports, deposit slips and notifications. In addition, the solution supports cheque withdrawals and date extensions.

Jonathan Morris, senior executive vice-president, group head of wholesale banking, Emirates NBD, said: "The ICCS Collect product will provide online clearing of cheques and help in the management of receivables. Our online cheque collections service already has wide acceptance and will now be available in two variants as we support both digital and physical warehousing of cheques. We expect a favourable response to the new offering and will continue to look to digitisation in facilitating quicker and easier processes for our customers."

- business@khaleejtimes.com