The Banking Executive Magazine - September Issue 2022

Emirates NBD Emirates NBD INTRODUCES H2H DIGITAL PAYMENT SOLUTIONS FOR ENOC GROUP ENOC Group has accelerated its digitisation strategy through a collab- oration with Emirates NBD, a leading banking group in the MENAT (Mid- dle East, North Africa and Turkey) re- gion, to implement innovative payment solutions. ENOC Group has successfully imple- mented Emirates NBD’s Host to Host (H2H) services for payments and ac- count reconciliation. The H2H plat- form offers advanced internet-based connectivity for the secure and auto- mated exchange of files between ENOC Group’s ERP (Enterprise Re- source Planning) and the bank, using secure communication protocols. The H2H implementation for ENOC Group has facilitated the automation of treasury cycles and reconciliation processes through scheduled trans- missions. ENOC’s implementation of H2H in- tegration to streamline its payment processes is aligned with its ongoing focus on innovation to drive opera- tional efficiency. Following weeks of intensive preparation, planning and testing, ENOC group can now di- rectly initiate and approve local and foreign currency payments from their ERP system, improving their straight- through processing capabilities and automating their reconciliation and treasury activities. Saif Humaid Al Falasi, Group CEO, ENOC, said: "In line with our strategy to enhance business and operations through digitisation, our recent col- laboration with Emirates NBD will help streamline payment processes to support treasury operations in an evolving business landscape. As a national oil champion invested in optimising our operations through in- novation, we will continue to adopt new technologies and innovative so- lutions to add value for our business partners in the future, in support of the UAE Government’s digital strat- egy." "Emirates NBD is at the forefront of driving technologies to digitise clients’ processes, bringing greater ef- ficiencies in their day-to-day opera- tions and making banking smoother, faster and more secure," said Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corpo- rate & Institutional Banking at Emi- rates NBD. "We were delighted to support ENOC in this critical project that reflects our commitment to the vision of the UAE’s leadership for a digitised community. We look for- ward to working closely with other public and private sector institutions as we continue to contribute to the digitisation of banking and payment processes in the UAE." the BANKING EXECUTIVE 34 ISSUE 165 SEPTEMBER 2022