DUBAI: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Trkiye) region, and Nium, a global leader in real-time in cross-border payments, have announced a strategic alliance to empower customers with a cutting-edge remittance solution and redefine the financial services landscape in the Middle East.
The partnership, subject to regulatory approvals, seeks to elevate the remittance experience with seamless, instantaneous cross-border transfers between the UAE and countries worldwide.
Remittances from the UAE have been driven by a growing expatriate population and cross-border trade.
By leveraging Nium’s payouts services, Emirates NBD offers customers real-time, cost-effective payment solutions with speed and unparalleled reliability.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said, ‘As a leading national banking group, Emirates NBD has played an active role in introducing innovation in all our banking solutions. The partnership with Nium,
a global leader in real-time, cross-border payments, will facilitate seamless, global transactions for our customers. This collaboration is a testament to the bank’s commitment to embracing cutting-edge technologies and pushing boundaries to deliver excellence.’
Prajit Nanu, Founder and CEO at Nium, said, ‘Nium is focused on achieving ubiquitous reach of our global payments infrastructure. The Middle East is a key market for us, and we have been doubling down on expansion in the region. Our partnership with Emirates NBD extends our presence into the heart of the Middle East with one of the most trusted names in the region. As a cornerstone of the global digital banking industry, Emirates NBD stands at the intersection of trillions of dollars of money movement and through this partnership Nium looks forward to moving more money in real-time across the region and beyond on our global infrastructure.’
With payments infrastructure optimised for fast-growing businesses, Nium enables real-time money movement to m
ore than 100 countries with shorter settlement windows, immediate funds receipt and efficiency.
Source: Emirates News Agency