PHOTO
Manama : National Bank of Bahrain (NBB) today announced the signing of an MOU with BENEFIT Company to offer a market leading Direct Debit Solution to its Business Customers.
The service offers a host of value added features to streamline and enhance the collection process. Business customers are currently dependent on their payors on the timing and mode of payment (cheques/cash/transfers, etc.), often creating delays and reconciliation challenges. Through Direct Debit tools, business customers can now obtain control of when they want to pull funds from their payor accounts as per mutual agreement. This ensures faster collection as well as eliminating reconciliation requirements.
Mr. Jean-Christophe Durand, CEO of NBB, said, “We are delighted to have this partnership that will allow our business customers an innovative solution to help them digitise their collections and reconciliation processes. This is part of our promise and commitment to support their growth and help them in meeting their business goals and objectives. An integral part of NBB’s transformation strategy has been to ensure that we are providing state-of-the-art solutions to all our customers.”
Mr. Hisham Al Kurdi, Chief Executive Corporate Institutional and Investment Banking, added,
“New digital solutions like this and our previously launched Business Online Banking last year are critical to helping businesses modernise and in the process, become more productive, efficient, and in turn maximise their potential and contribution to Bahrain’s economy. We look forward to rolling out this service alongside BENEFIT as this partnership will further strengthen our transaction banking offering and will continue to be our focus area as we grow our franchise”.
Further commenting, Mr. Abdulwahed Al Janahi, CEO BENEFIT, said, “We are happy to utilise our market leading payment platforms and service capabilities to help NBB bring this innovative online service to its business customers. We will work closely together with NBB’s business customers to ensure they can maximum the value and benefits from this resource. This will include the provision of strong customer services support and training to allow users to confidently modernise this important aspect of their business and fully leverage the many features for enhancing and automating the billing and payment process for greater time and cost savings and overall enhanced efficiency.”
-Ends-
About National Bank of Bahrain B.S.C
National Bank of Bahrain B.S.C. (“NBB”), was established in 1957 as Bahrain’s first locally owned bank, incorporated under the laws and regulations of the Kingdom of Bahrain. NBB has grown steadily to become the Kingdom’s leading provider of retail and commercial banking services. With a major share of the total domestic commercial banking market and the largest network of 25 branches and 61 ATMs, NBB plays a key role in Bahrain’s Economy. NBB continues to diversify and develop capabilities to capture business opportunities in the Gulf region and international markets with the Abu Dhabi and Riyadh branch leading the way in this initiative. NBB is listed publicly on the Bahrain Bourse. For more information, please visit: https://www.nbbonline.com
Media inquiries can be directed to:
FinMark Communications
Zahraa Taher
Tel: +973 39630997
Email: ztaher@finmarkcoms.com
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
