Emirates NBD has become the first bank in the UAE to offer real time credits on AED cash deposited across its network of more than 240 Smart Cash Deposit Machines (SCDMs).
The initiative, which was rolled out in partnership with Transguard, provides Emirates NBD’s corporate clients 24/7 instant access to credit against funds deposited in SCDMs installed in their own offices.
The machines accept cash in any currency, along with cheques and coins, and can detect counterfeit notes. It also removes the need to sort and count cash, SCDMs make the reconciling process faster.
“Emirates NBD has reaffirmed its leadership status in innovative banking solutions by rolling out the largest network of Real Time Smart Cash Deposit Machines across the UAE,” said Abdulla Qassem, Group Chief Operating Officer, Emirates NBD.
“This service will help clients mitigate operational risks and costs while optimising their receivables management. We remain committed to investing in technology and offering cutting edge solutions that directly add value to our clients’ businesses.”
Greg Ward, Managing Director of Transguard Group, added: “Business in the UAE can change very quickly, and our Smart Cash Deposit Machines empower our clients to adapt just as swiftly. Offering this technology opens up exciting possibilities for the country’s corporations and business leaders.”