Emirates NBD says it is beginning to see the financial gains of its digitisation efforts, with as much as 8% to 15% of its new business now coming via digital channels, according to a senior executive at the firm.
The largest banking group in the Middle East in terms of assets revealed that 42% of its target customers are already active users of our digital channels, while its online and mobile transactions are growing at 30%.
Suvo Sarkar, senior executive vice president & group head -- Retail Banking and Wealth Management told Gulf News that for the first time in its history the group is seeing a decline in branch transactions, as customers transition across to digital banking.
Currently more than 85% of the bank's retail customer transactions are done outside the branch network. The bank's mobile banking app boasts more than 100 functionalities with new features like full biometric login, the first remote cheque deposit feature in the region, mobile queuing ticket for branches, and social banking using Twitter.
The bank says it will automate and digitise end-to-end processes wherever it can to improve speed and reliability, and to minimise paper forms.
A proactive servicing model is also in the works, which will allow the bank to anticipate problems and call the customer, instead of the other way round – for example, when an online banking password is blocked.
Sarkar said that the bank is enjoying "higher customer satisfaction and net promoter scores" as a result of improving its digital channels, but acknowledged that there is more work to be done.