Emirates NBD has unveiled plans to invest AED500m ($136 million) over the next three years to enhance its digital capabilities.
The bank will spend the money on five main areas that include end to end process transformation; faster and more responsive customer interface; omnichannel experience, improvement of cyber security and anti-fraud capabilities; as well as improvement of data management and analytics.
The bank also announced plans to launch the first digital bank in the UAE. Aimed at millennials, the new bank will deliver the next generation of self-service money management with useful tools and applications.
Emirates NBD group CEO Shayne Nelson said: "We are making a commitment to the future with our digital transformation plan. Our focus on technology innovation and adoption to create digital-only products is creating a new paradigm in the way people bank in the UAE.
"This significant investment will drive further innovation and solidify Emirates NBD’s reputation as an innovation-led, customer-focused bank that is indisputably a market leader in the region."