The three-per cent rise comes as university leaders blame a crackdown on immigration for restricting international student numbers
europe1 hour ago
As the banking sector evolves to meet the transformative nature of the current situation, it must remain focused on maintaining the highest standards of convenience, efficiency and security that customers have come to expect. Innovation is a key component of this formula and the National Bank of Fujairah (NBF) has been ahead of the curve, focused on digitisation and new trends well ahead of the pandemic. This foresight eased the transition to adopting new technologies as online banking became more and more prevalent. Alongside its digital journey, the bank has also been integrating automation and robotics to minimise paperwork while simultaneously developing its trade finance payment facilities and digital platforms to further enhance the corporate banking segment.
In 2020, NBF invested in new products and services as it looked to increase efficiency, help businesses overcome Covid-19 related constraints and broaden its customer base. To date, more than 70 per cent of the bank's customers have transitioned from traditional banking to NBF's online banking platform, and in some processing areas, more than 90 per cent of transactions are now fully automated. With people increasingly showing preference to get their banking done through digital applications, NBF has been transforming its branch network in the UAE and investing in new products and services for clients. Its NBF Virtual Teller Machine (VTM) allows customers to connect one-to-one with a live teller through real-time video, allowing them to virtually complete any transaction that can be made within a branch while still receiving personalised service.
NBF also rolled out a number of products including NBF Connect, a platform designed to empower, network and help SMEs with their business challenges; eDirham Instant, a digital payment method that allows customers to securely pay for governmental fees and services; NBF klip, a robust, secure and interoperable digital cash platform that is designed to transition the UAE to a truly cashless society. More recently, the bank co-created UAE Trade Connect, a nationwide blockchain platform, with Etisalat Digital and seven other banks; this platform aims to support financial institutions combat fraud and duplication and tackle key issues in the trade finance space.
As a dedicated financial partner, NBF will continue to invest in digitalisation and innovation with an aim to provide customers with differentiated customer service that best suits their needs.
The three-per cent rise comes as university leaders blame a crackdown on immigration for restricting international student numbers
europe1 hour ago
Western allies fear turbulent times ahead for the defence alliance formed at the start of the Cold War if Trump wins Tuesday's knife-edge election
europe1 hour ago
The prestigious Goncourt prize usually sparks book sales in the hundreds of thousands for the winning author.
europe1 hour ago
Australia's most expensive defence project, the AUKUS deal, was struck under the Biden Administration in 2023
world1 hour ago
Moving the precious stone and roughly carved statues by truck across the divide of the civil war, from rebel to junta-held territory, is expensive, difficult and dangerous
asia1 hour ago
The attack was shocking and horrific, say mosque authorities on social media
asia2 hours ago
The social media platform is also playing a central role in enabling the spread of false information about the critical battleground states
americas2 hours ago
Vehicles, construction dust, and smoke from farm fires in the adjoining northern states of Punjab and Haryana among the major contributors
asia2 hours ago