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- Emirates NBD partners with Kinexys Liink to improve cross-border payment security using blockchain technology.
- Integration of Kinexys Liink’s ‘Confirm’ app enhances UAE-based account verification for global payment efficiency.
- Liv, Emirates NBD’s digital platform, is expanding rapidly with nearly half a million users in the region.
Emirates NBD, a leading banking group in the MENAT region, has partnered with Kinexys Liink, a bank-driven peer-to-peer data sharing network anchored in the banking industry. This integration will help to improve cross-border payment security through a partnership with Kinexys Liink’s ‘Confirm application.
According to this, Emirates NBD envisages seeing international payments coming closer to their financial institutions so as to facilitate safe and effective transactions for the firms and organizations globally.
Kinexys Liink, developed by J.P. Morgan’s blockchain division, provides a solution for verifying bank account information before making payments across the globe. The ‘Confirm’ application is a tool designed to reduce the likelihood of errors and potential delays that may occur during payment processing. By implementing this integration, Emirates NBD will enhance its role in optimizing payment solutions for UAE-based accounts and improve global payment systems.
Enhancing Payment Efficiency
Furthermore, Emirates NBD can utilize the ‘Confirm’ application to verify account information for participants who are based in the UAE. This will enhance cross-border payment efficiency and quicken the process, which was previously hindered by errors or invalid details. The partnership aims to reduce operating costs, improve processing efficiency, and enhance the effectiveness of cross-border payments.
While, this collaboration further strengthens Emirates NBD’s position as a digital banking innovator. Currently, the bank is still observing the possibility of utilizing innovative solutions such as blockchain for increasing the level of protection of payments as well as enhancing the efficiency of its processes. Emirates NBD enables its customers and other financial institutions to enjoy efficient and timely transactions across borders.
Anith Daniel, the Group Head of Transaction Banking Services of Emirates NBD, seemed delighted at the prospect of the partnership.
“We are pleased to integrate with ‘Confirm’ by Kinexys Liink, which positions us at the forefront of payment innovation.”
NBD Partners with Kinexys
While, Cross-border payment solution of Kinexys by J.P. Morgan is an initiative that has the noble technological goal of transforming the field by incorporating blockchain technology. The Confirm app is an ingenious solution that can be very useful when it comes to confirming the information about the account before the operation is made.
Naveen Mallela, the Global Co-Head of Kinexys by J.P. Morgan, stated:
“We are pleased to welcome Emirates NBD as part of the Kinexys Liink network.
However, Emirates NBD remains committed to expanding its digital banking services. Liv, the bank’s digital platform, continues to expand and is among the leading financial applications across the region with almost half a million subscribers. This company operates in 13 countries. Making it one of the leaders in the financial services sector and assisting millions of people in achieving their goals.
