.DUBAI, May 18 (Gulf News): Banks in the United Arab Emirates (UAE) said they are heavily investing in new technologies and reinventing their strategies to strengthen their business.
A lot of focus is being directed at social media and enhancing the customer experience at the physical branch.
Emirates NBD has recently deployed an Interactive Teller Machine (ITM) at the Dubai Mall branch, a video-based interactive facility that allows customers to carry out transactions with the aid of a centrally-based teller. More ITMs will be launched this year.
"We continue to add more functionalities and simplicity of use to our mobile banking platform. We recently introduced the DirectRemit proposition, a service that enables our non-resident Indian customers to remit money online in just under a minute," said Suvo Sarkar, general manager, retail banking, wealth and management, at Emirates NBD.
Sarkar said the bank will also roll out a "tablet-based financial planning service" and is investing heavily on social media platforms.
While there is increased focus on digital banking, Sarkar said the traditional branch banking will remain an important mode of transaction in the Middle East.
"Banking in the region is built on relationship and personal interactions. What will change is the nature of activity in the branches. The more transactional activity will move to digital channels while the advisory areas will remain in the branches."
UAE banks invest lot in technology
FE Team | Published: May 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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