In 2018 , Emirates NBD began a large-scale transformation program across its entire operations to boost the pace of innovation .
“ As part of our strategic transformation vision , Emirates NBD decided to consolidate all its standalone payment platforms through implementation of Payments HUB . This approach also complimented the other strategic goal of Emirates NBD to standardize payments processing across all its International entities ,” says Barid Neogi , Head of Group Operation Governance and Business Support at Emirates NBD .
In order to realize this vision , a detailed diagnostic of all its payment systems was undertaken by Emirates NBD to evaluate and identify the scope for enhancements . Multiple payment systems were assessed by the Bank before selecting TCS BaNCS , as it met all the requirements . “ Payments differentiate the banks in today ’ s digital environment , which was one of the prime reasons why we wanted to transform our payments backdrop . TCS BaNCS provided us with a robust system which helped us in accomplishing our objectives ,” says Neogi .
Emirates NBD ’ s vision was to create a centralized payments system to transform payments processing across all its entities in six countries & to standardize processes for payments . To realize that vision , multiple payment systems were assessed that would address all the points identified during the detailed diagnostic . TCS BaNCS with its enhanced features checked all the boxes for Emirates NBD to successfully reach the objective of transforming the way payments are processed today in the bank . “ Payments differentiates the bank today , which was one of the main reasons we wanted to transform the way it was being done ,” says Neogi .
TCS BaNCS for Payments offered a true multi-country Enterprise Payments Hub solution built on a modern technology architecture with the latest payment standards , including ISO 20022 . In 2019-20 , Emirates NBD began rolling out TCS BaNCS for Payments through multiple stages . The starting point was to establish the back-end capabilities of the payments core .
“ TCS BaNCS for Payments has given the bank a very stable platform , with everything connected in one place . Centralized connectivity has improved payments processing with higher STP rates and faster confirmation for payments . Furthermore , Emirates NBD now has instant visibility into trends and patterns across business units . Having the entire payments platform in one place helps us with analytics and decision making ,” says Neogi .
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