Emirates NBD, the banking group in the MENAT (Middle East, North Africa and Türkiye) region has partnered with Nium, the real-time cross-border payment firm, as the two aim to empower customers with a new remittance solution and redefine the financial services landscape in the Middle East.
A growing expatriate population across the UAE and the increasing volume of cross-border trade have caused a significant growth in remittances sent from the country. By leveraging Nium’s payout services, Emirates NBD hopes to enhance its remittance service, by offering customers in the UAE real-time, cost-effective payment solutions with speed and unparalleled reliability.
The partnership, subject to regulatory approvals, hopes to elevate the remittance experience by providing faster and more seamless cross-border transfers between the UAE and countries worldwide.
Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, discussed the importance of bolstering its remittance offering for UAE residents: “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, also 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.”
