Dubai: Emirates NBD Securities, one of the leading brokerages in the UAE, has become the first securities brokerage in the region to offer seamless trading account opening through the Dubai Financial Market (DFM)’s digital onboarding application.
The application provides investors with an additional channel to open a trading account with Emirates NBD Securities, allowing them to rapidly begin investing in IPOs and other securities listed on the exchange. Emirates NBD Securities is the brokerage arm of the Emirates NBD Group, one of the biggest banks in the Middle East, North Africa and Turkey.
Through its collaboration with the Emirates NBD Securities, DFM’s Digital Onboarding smart phone application provides investors with an end-to-end digital experience, including the ability to acquire a DFM Investor Number (NIN), a trading account, profile and log in credentials, the first steps for investors to begin their trading journey. The application also provides investors with a host of other services on DFM.
Asma Al Hosani, General Manager of Emirates NBD Securities, said: “We are pleased to have worked closely with the DFM on their smart phone application to further facilitate investor access to the stock market amid buoyant activity and a robust pipeline of IPOs. Our longstanding partnership with DFM and this new milestone in our digital journey reflects our commitment to supporting the growth of capital markets and being at the forefront of innovation. We will continue to harness best-in-class technology and forge partnerships with leading institutions in the region to provide our customers with unique channels to access our wide range of financial solutions.”
Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “DFM’s digital transformation strategy is gaining further momentum owing to the accelerating pace of onboarding of leading brokerage firms. Our efforts and collaboration with trading members are massively enhancing market accessibility and streamlining investors’ onboarding experience, driving our investors base above one million investors in 2022. We congratulate Emirates NBD Securities for successfully integrating with DFM app, enabling its customers’ access to this service. We are also looking forward to welcoming other trading members who are in the final stages of the onboarding process.”
Emirates NBD Securities became the first securities brokerage in September to launch an end-to-end digital onboarding process on its website, enabling more than 1 million Emirates NBD customers to start trading instantly the DFM. The upgraded platform replaces paper-based processes with a fully digitized brokerage account opening experience, providing investors with rapid access to the DFM. In three simple steps, users can begin their trading journey and receive their trading account details and DFM NIN within minutes, eliminating the need to print, sign, scan and e-mail documents.
The Group also launched an end-to-end IPO subscription website in March 2022 for individual investors with real time subscription payment capabilities for UAE investors and wire transfer capabilities for non-UAE investors. The new seamless onboarding process complements this initiative by providing instant access to IPO subscriptions and is part of a strategic collaboration with DFM to enhance investor base.
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Turkey) region with a presence in 13 countries, serving over 17 million customers. As at 31st December 2022, total assets were AED 742 billion, (equivalent to approx. USD 202 billion). The Group has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 879 branches and 4,130 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.6 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv., the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is also an early supporter to Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
Emirates NBD Securities offers trading account opening through DFM application
Emirates NBD Securities is among the first in the region to fully integrate with the DFM application to offer end-to-end digital investor onboarding
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