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Emirates NBD and Nium Partner to Transform Cross-Border Payments

Photo : Dubai Government Media office

Emirates NBD, a prominent banking group serving the MENAT region, and Nium, a global leader in real-time cross-border payments, have unveiled a strategic partnership aimed at revolutionizing remittance services and reshaping the financial landscape in the Middle East.

This alliance, pending regulatory approvals, aims to enhance the remittance experience by offering seamless, instantaneous cross-border transfers between the UAE and countries worldwide. The UAE has witnessed significant remittance activity driven by its expanding expatriate population and flourishing cross-border trade. Leveraging Nium's cutting-edge payouts services, Emirates NBD will provide customers with real-time, cost-effective payment solutions characterized by speed and unmatched reliability.

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Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, highlighted the bank's commitment to innovation in banking solutions. He emphasized that the partnership with Nium, a global leader in real-time cross-border payments, reflects Emirates NBD's dedication to leveraging advanced technologies to deliver exceptional service.

Prajit Nanu, Founder and CEO of Nium, expressed the company's focus on expanding its global payments infrastructure, with the Middle East being a key market. The collaboration with Emirates NBD signifies Nium's entry into the heart of the Middle East with a trusted regional partner. Through this partnership, Nium aims to facilitate real-time money movement across the region and beyond on its global infrastructure.

Nium's payments infrastructure is tailored for rapidly growing businesses, enabling real-time money transfers to over 100 countries with shorter settlement windows, immediate funds receipt, and enhanced efficiency.

This strategic alliance between Emirates NBD and Nium heralds a new era of innovation and efficiency in cross-border payments, promising customers unparalleled convenience and reliability in their remittance transactions.

May 8, 2024 2:44 p.m. 4272

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