UAE-based banking group Commercial Bank of Dubai (CBD) has partnered with PwC Middle East for one year to drive digitisation.
As per the agreement, PwC will help the bank join forces with fintech start-ups. In addition, it will use new technologies to enhance banking processes and enhance the customer journey.
A project team will be deployed to assess new start-ups in the fields and then devise proof of concepts for implementation.
Subsequently, CBD will collaborate with potential start-ups to enhance customers services and encourage digital innovation.
PwC Middle East partner and financial services practice leader Mehryar Ghazali said: “Technology has become an integral part of our daily lives and our agreement with CBD comes at the perfect time when we look to foster cultural innovation and embrace technology at its best.
“Achieving a unique banking experience is at the core of this initiative and we at PwC are proud to be part of it; and transform the way CBD’s people and its customers embrace technology.”
Besides helping with CBD digitisation, the scope of the agreement requires PwC to help the Dubai-lender to develop and operate CBD Labs.
Scheduled to launch in the next month, the CBD Labs will operate as a corporate workspace to support innovation, collaboration and disruption.