Emirates NBD introduces H2H digital payment solutions for ENOC Group
ENOC Group’s digitization plan has been boosted through a relationship with Emirates NBD, the most extensive banking group in the MENAT (Middle East, North Africa, and Turkey) area, to develop innovative payment solutions.
ENOC Group fully integrated Emirates NBD’s Host to Host (H2H) payment and account reconciliation services. Using secure communication protocols, the H2H technology provides enhanced internet-based connectivity for the protected and automated exchange of files between ENOC Group’s ERP (Enterprise Resource Planning) and the bank. ENOC Group’s H2H installation has enabled the automation of treasury cycles and reconciliation operations through scheduled transmissions.
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ENOC’s use of H2H integration to optimize its payment procedures is in keeping with the company’s continued commitment to innovation to improve operational efficiency. ENOC group can now quickly initiate and authorize local and foreign currency payments from their ERP system, boosting their straight-through processing capabilities and automating their reconciliation and treasury tasks after weeks of extensive preparation, planning, and testing.
Emirates NBD (DFM: Emirates NBD) is a MENAT (Middle East, North Africa, and Turkey) banking corporation with a presence in 13 countries and over 17 million clients. Total assets as of 30th June 2022 were AED 711 billion (equivalent to approx. USD 193 billion). The Group has 900 branches and 4,086 ATMs / SDMs throughout the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia, and Bahrain, as well as regional headquarters in China and Indonesia. With a brand value of USD 3.7 billion, Emirates NBD is the biggest financial services brand in the UAE.