ENOC Group has successfully implemented fully automated payments through Emirates NBD’s Host to Host solution
Dubai: ENOC Group has accelerated its digitisation strategy through a collaboration with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, to implement innovative payment solutions.
ENOC Group has successfully implemented Emirates NBD’s Host to Host (H2H) services for payments and account reconciliation. The H2H platform offers advanced internet-based connectivity for the secure and automated exchange of files between ENOC Group’s ERP (Enterprise Resource Planning) and the bank, using secure communication protocols. The H2H implementation for ENOC Group has facilitated the automation of treasury cycles and reconciliation processes through scheduled transmissions.
ENOC’s implementation of H2H integration to streamline its payment processes is aligned with its ongoing focus on innovation to drive operational efficiency. Following weeks of intensive preparation, planning and testing, ENOC group can now directly initiate and approve local and foreign currency payments from their ERP system, improving their straight-through processing capabilities and automating their reconciliation and treasury activities.
His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said: “In line with our strategy to enhance business and operations through digitisation, our recent collaboration with Emirates NBD will help streamline payment processes to support treasury operations in an evolving business landscape. As a national oil champion invested in optimising our operations through innovation, we will continue to adopt new technologies and innovative solutions to add value for our business partners in the future, in support of the UAE Government’s digital strategy.”
“Emirates NBD is at the forefront of driving technologies to digitise clients’ processes, bringing greater efficiencies in their day-to-day operations and making banking smoother, faster and more secure,” said Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking at Emirates NBD. “We were delighted to support ENOC in this critical project that reflects our commitment to the vision of the UAE’s leadership for a digitised community. We look forward to working closely with other public and private sector institutions as we continue to contribute to the digitisation of banking and payment processes in the UAE.”
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About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Turkey) region with a presence in 13 countries, serving over 17 million customers. As at 30th June 2022, total assets were AED 711 billion, (equivalent to approx. USD 193 billion). The Group has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 900 branches and 4,086 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.7 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv., the lifestyle digital bank for millennials.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is also an early supporter to Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head – Group Corporate Affairs
Emirates NBD
e-mail: ibrahims@emiratesnbd.com
Mahmoud Kassem
Associate
Brunswick Group
e-mail: mkassem@brunswickgroup.com
About ENOC Group:
ENOC Group (Emirates National Oil Company) is a leading integrated international oil and gas player operating across the energy sector value chain. As a wholly owned entity of the Government of Dubai, and integral to the Emirate’s success, ENOC owns and operates assets in the fields of exploration & production, supply & operations, terminals, fuel retail, aviation fuel and petroleum products for commercial & industrial use. The Group’s general business operations include automotive services, non-fuel F&B retail and fabrication services. Servicing thousands of customers in over 60 markets, the Group employs a multi-national workforce of over 11,000 employees and is deploying its world-class customer service, latest innovations and technologies as well as best practices to empower the UAE’s social and economic development.
For further information, please visit: www.enoc.com
For further information on ENOC, please contact:
Nashwa El Darawy | Srishti Soni
ASDA’A BCW | Arab Youth Survey
Nashwa.Darawy@bcw-global.com | Srishti.soni@bcw-global.com
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