- Emirates NBD among first in the region to implement global best practice
Dubai, UAE: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has completed successful migration of its customer base to the Smart Pass service to support safer digital transactions.
The roll out of Smart Pass is part of the bank’s long-term commitment to safe, secure banking and supports Emirates NBD’s ongoing initiatives to align with global best practices in banking security.
Available on the bank’s Mobile Banking App, Smart Pass is a soft token generator that enables customers to authorise digital transactions using highly secure encryption standards, offering strong two-factor authentication as an added layer of protection beyond just a username and password. Importantly, Smart Pass enables customers to authorise digital transactions on Emirates NBD Mobile or Online Banking without the need to use an SMS OTP (one-time password) based authorization, providing protection against potential mobile SIM card swap fraud. In addition, this helps reduce reliance on local and international telecom operators, making it easier and safer to conduct digital transactions, home or abroad.
Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking & Wealth Management, Emirates NBD said, “At Emirates NBD, customer safety is our top priority, and we are constantly developing new ways to make online transactions more secure, convenient and hassle-free. As fraudsters develop increasingly sophisticated means of accessing personal information, solutions such as Smart Pass are critical to help safeguard consumers in a digital age so that they can conduct secure transactions, easily and quickly, from anywhere in the world.”
As a regional leader in digital banking innovation, Emirates NBD has championed widespread efforts to further cybersecurity. Last year, the bank rolled out several campaigns aimed at building awareness among customers to be vigilant with sharing personal and financial information. Emirates NBD reminds customers to never share with anyone their banking details such as online username and password, Smart Pass PIN, card number and PIN, or the three-digit CVV number on the back of the card and secret questions and answers.
-Ends-
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th June 2020, total assets were AED 694 Billion, (equivalent to approx. USD 189 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands.
The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.
The Bank has operations in the UAE, Egypt, Turkey, the Kingdom of Saudi Arabia, India, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 944 branches and 4,262 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.
Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Kaul
asda’a bcw; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: Tricia.Kaul@bcw-global.com
© Press Release 2020
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.
