Emirates NBD is expanding its cooperation with Plug and Play Abu Dhabi to find fintechs that can strengthen its risk management and cyber security models.
Emirates NBD, a prominent banking organization in the Middle East, North Africa, and Turkey (MENAT) region, is looking for fintechs that can offer solutions that will improve the bank’s risk management and cyber security models as part of an expansion of its partnership with innovation enabler Plug and Play Abu Dhabi.
Emirates NBD plans to extend its fintech collaborations with digital firms through Plug and Play Abu Dhabi’s global network. With a new fintech accelerator program, the companies want to accomplish these goals.
The Emirates NBD Group Risk Department seeks innovators in three key areas, but the ongoing relationship presently meets its needs:
- Cybersecurity Risk – Create fresh ideas about how you safeguard customer information and stop data breaches.
- Credit Risk: Using data and cutting-edge technologies that are compatible with the regulatory framework and the risk appetite, perform risk assessment for retail clients while creating more precise credit risk models for quicker and better loan decisions.
- Conduct Risk: Use many communication sources and behavior categorization to identify and reduce conduct risks in a cost-effective way.
Banks must stay current to protect clients’ investments.
“We look forward to the new solutions that come out of this collaboration and serve the bank in managing risk in a fast-changing economic climate with significant volatility.” Said Manoj Chawla, global chief risk officer for Emirates NBD.
Banks must keep ahead of the curve to safeguard the safety and security of their customers’ assets, from credit risks to cyber security concerns.
Group chief operating officer, Abdulla Qassem, said they were excited to expand their strategic partnership with a worldwide innovation leader. Again, they can explore fintech skills with global start-ups to develop solutions that streamline operations and improve customer-centricity.
“”We are happy to continue our work with Emirates NBD in their drive to improve their risk management and cyber security models,” said Plug & Play EMEA managing partner Omeed Mehrinfar. “Our request for top fintechs with exceptional technological expertise shows our commitment to finding innovative financial solutions. Fintechs may improve industry and client security by working with us.”