(MENAFN- Khaleej Times)EmiratesNBD expects strong growth in online banking steady use of automated teller machines and interactive teller machines and a reduction in the number of voice calls in line with global trends according to a senior official.
Pedro Cardoso head of multichannel and CRM at Emirates NBD said approximately 80 per cent of the bank's transactions are already performed through digital and direct channels such as online mobile ATMs and call centre. The bank is expected to reach 90 per cent of total transactions outside its branches through various convenient channels in the next three years due to the growing popularity of the mobile and online banking channels. "Our mobile banking platform has experienced dramatic growth since the last few years. In 2014 alone the number of customers using mobile banking went up by 30 per cent and we recently reached half-a-million downloads of our app" Cardoso told Khaleej Times in an interview. Mobile banking is contributing about 18 per cent to Emirates NBD's total business today and the bank is targeting to increase this contribution to up to 36-40 per cent in next three years due to increased digitisation of its services and fast-changing customer behaviour in modern-day banking. The UAE's leading bank expects that its mobile transactions will reach 20 per cent of the total deals as the segment is growing by more than 70 per cent on a year-on-year basis. Cardoso said the emergence of social media as a platform for direct engagement with customers will also gain more traction in the coming years. "This will continue to enable us to introduce innovative solutions that address biggest customer concerns. We effectively use this medium to engage with our half-million fan base." To a question about the usage of cash in day-to-day affairs in coming years he said the role of cash will be reduced due to the popularity of digital channels and alternative payment solutions. "As the usage of cards and other electronic payment methods gets propagated we can expect to see a reduction of the cash in circulation. In the UAE we still have around 87 per cent transactions done with cash so there's a significant opportunity to capture these efficiencies and improve customer service. "Since the launch of Apple Pay last year and Android Pay earlier this year a lot of activity has been happening in the mobile payments space and we can expect this kind of initiatives to have an impact in terms of reducing the need to carry cash. We believe this will happen progressively as the whole ecosystem of banks merchants and customers would have to reach a certain level of readiness" he said. Close eye on mobile banking Cardoso said mobile banking is an area that banks globally are keeping a close watch on. The unprecedented processing power of an average smartphone and the fact that customers are using these devices every day for multiple purposes give new opportunities to continue to innovate. "At Emirates NBD we have seen that the growth in mobile banking is characterised by the convenience and hassle-free experience it offers to customers including spending less time waiting in line. We are very excited about this space and believe that mobile banking will gain a strong foothold in thecountry" he said. "Over the past few years we have built a trusted mobile platform for customers to transact conveniently while ensuring the appropriate security is in place. We have seen these customers grow with the mobile channel and some use it as their primary channel to interact with the bank." Cardoso said Emirates NBD has a strong focus on creating an attractive meaningful and innovative range of smart digital banking services that spread across multiple touch points products and segments. These include the introduction of the first interactive teller machine or ITM in the Middle East that allows customers to interact remotely with a live teller and perform cardless transactions offering extended hours and increased convenience. "At Emirates NBD we also introduced services such as instant account opening via our branches using the Emirates ID card an improved ATM experience and new call centre services in addition to a very unique set of online and mobile features that are exclusive to Emirates NBD customers such as Direct Remit to India the Philippines and Pakistan in 60 seconds with no fees. "Our customers can also transfer money to 500000 Western Union locations globally in just a few clicks and more recently the introduction of mobile queuing ticketing and mobile deposit capture to our priority and private banking customers just to name a few." To a question he said most of the latest mobile banking trends are now available to bank customers at Emirates NBD. "The introduction of mobile cheque deposit is a milestone for the UAE which is now one of the few countries in the world to have this service. The fast pace of technology will continue to give opportunities for banks to innovate and we will continue to evaluate them." About savings due to the growing share of mobile banking he said the bank's focus is to deliver the best possible mobile experience to its customers relying on convenience security and high availability. "A transaction performed via mobile banking cost us 10 times lesser than a transaction done at a branch so we will benefit from optimising our multichannel delivery mix while we continue to be more efficient handling our customer's transactions." Cardoso said Emirates NBD secures its apps and customer data and best safety measures are in place to thwart any cyber-attack on its system. "We invest heavily on the highest security standards across all our systems and we are happy to give the confidence to our customers since this is one of the benefits of banking with Emirates NBD" he said. -
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