NDAB-Deutsche Bank deal will ease dollar flow
The National Bank of Abu Dhabi (NBAD) has signed a deal with Deutsche Bank to use its Guaranteed US Plus payment solution, which it promises will improve price transparency for clients with individual US dollar flows into the US.
The new service was developed by Deutsche Bank’s global transaction banking business to help create a more efficient way for US beneficiaries of cross-border US dollar payments and their foreign counterparts to do business. NBAD clients will be able to pass on fee transparency to their own customers for US dollar payments to the US.
Created in 1968, NBAD has one of the larger networks in the United Arab Emirates, with 125 branches and 485 ATMs in the country. The firm’s international network consists of 57 branches and offices and 17 countries on five continents.
“We are delighted to be able to use Deutsche Bank’s product innovation to offer this cutting edge US dollar payment service that creates new efficiencies for our clients and help us expand our leadership in the Middle East market,” said Frank Hamer, global head of transaction banking at NBAD.
Earlier this week, Abu Dhabi Commercial Bank (ADCB) announced it will use Deutsche Bank’s Autobahn App Market, which consists of 165 apps designed to help banks to track performance, streamline daily workflows, mitigate risk and increase efficiencies through research, analytics, data and pricing tools on a single platform.
ADCB is the fourth-largest bank in the UAE and third in Abu Dhabi. Founded in 1985, the bank is active in all banking services that span corporate, retail and commercial banking, as well as in the areas of treasury derivatives, infrastructure finance, private banking and wealth management.
