Emirates NBD has collaborated with Appro, a fintech platform developed by SC Ventures, aiming to improve the retail banking onboarding experience.
This partnership is set to facilitate the reduction of the application process duration from several hours to a mere three minutes, according to the bank.
The integration of Appro's technology enables customers to complete a single application for each banking product.
Emirates NBD will leverage the data collected during this process to conduct essential onboarding tasks, which include know your customer (KYC) checks, customer due diligence, credit assessments, and fraud prevention measures.
The implementation of Appro's platform is expected to enhance operational efficiency and improve customer experience by expediting the onboarding process, minimising fraud risk, and ensuring compliance with regulatory standards.
Appro co-founder and commercial director Tarek Osman said: “Appro is dedicated to revolutionising the customer banking experience and making their onboarding as seamless as possible. We are delighted to partner with Emirates NBD and enhance their customer experience.”
Emirates NBD stated that customers will experience a quicker and “more transparent” application process, which is anticipated to lead to higher satisfaction levels and stronger relationships with the bank.
Emirates NBD retail banking and wealth management group head Marwan Hadi said: “Our partnership with Appro exemplifies Emirates NBD’s commitment to leveraging cutting-edge fintech solutions to streamline processes and enhance customer experiences.
“By transforming our onboarding experience, we are not only improving efficiency but also strengthening our fraud prevention capabilities.”
Recently, the Reserve Bank of India (RBI) granted "in-principle" approval to Emirates NBD Bank PJSC to establish a wholly owned subsidiary in India.
"Emirates NBD turns to Appro to enhance onboarding process" was originally created and published by Retail Banker International, a GlobalData owned brand.
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