MENAT’s Emirates NBD bank pioneers digital asset innovation and financial services co-creation. Discover the Digital Asset Lab’s objective to encourage collaboration and experimentation in digital asset-based innovation.
A platform for facilitating and accelerating the innovation of digital assets and financial services in the UAE has been developed by Emirates NBD, the banking group for the Middle East, North Africa, and Turkey (MENAT).
Emirates NBD wants to build a platform with industry experts through its new Digital Asset Lab that will allow co-creation and experimentation for the invention of novel concepts in financial services using digital assets.
As the ecosystem for digital assets continues to develop, The Lab focuses on digital assets and how it can employ underlying technology to help consumers manage their financial services needs effectively.
The bank’s new platform will increase efficiency, guarantee security and transparency, provide global accessibility of subject matter experts, and promote education and awareness among its clients.
Moreover Emirates NBD signed innovation-focused contracts at the Dubai FinTech Summit with PwC, a professional services business, and Fireblocks, a technological platform for direct custody and digital asset transfer.
“A center for collaboration, experimentation, and innovation”
“As a leader in digital innovation, we are always looking to differentiate ourselves and stay ahead of the curve, especially when it comes to keeping pace with the dynamic digital landscape,” said Abdulla Qassem, group chief operational officer at Emirates NBD.
“The opening of our new Digital Asset Lab strengthens our position as a pioneer in digital finance and a digital leader in the area. In order to improve the banking experiences of our clients, we are thrilled to work with the best and most creative names in the business.
“With the help of industry partners, our new Digital Asset Lab acts as a focus for innovation, experimentation, and cooperation in the digital asset field. We consider this as a further step in the direction of quickening our transformation process and creating cutting-edge solutions that improve client experience.
The arrangement between Fireblocks and the banking group was discussed by Michael Shaulov, the company’s CEO and co-founder. Shaulov stated: “Fireblocks is honored to join an esteemed group of top digital innovators as a founding council member of Emirates NBD Group’s Digital Assets Lab. The news is yet another important turning point for the area, opening up new opportunities for financial and digital asset innovation and positioning Dubai on the cusp of a new digital frontier.
“PwC is proud to partner with Emirates NBD on the Digital Assets Lab to accelerate digital transformation in the region’s financial sector,” said Stephen Anderson, PwC’s Middle East strategy and markets leader. We deliver significant expertise, cutting-edge solutions, and solid connections to the fintech start-up and scale-up ecosystem as a leading advisor in this field.
Finally together, we will develop cutting-edge solutions that improve consumer satisfaction, promote diversity and creativity, and uphold our dedication to honesty and accountability.
