Photo by Thomas Lefebvre via Unsplash
Uk-based Nomo Bank has announced a deal with ADCB and its subsidiary, Al Hilal Digital Bank that will give local residents and citizens access to a range of digital services through its mobile apps.
The firm said the partnership will allow customers use Nomo’s digital services and products through ADCB-Nomo and Al Hilal Nomo Apps. It also signals the digital bank’s first steps into the UAE market as part of a greater expansion across the GCC.
Speaking at the signing ceremony Mr. Adel Abdul Wahab Al-Majed, Chairman of the Bank of London and the Middle East “BLME”, and GCEO of Boubyan Bank Group, said: “This partnership is aligned with Nomo’s expansion strategy that aims at increasing the number of its GCC customers and providing them with the best digital solutions backed by state-of-the-art innovations, while focusing on certain segments of customers who are interested in specific services such as property finance and many other services.”
The deal follows the recent launch of Nomo’s multicurrency account which focuses on instantly providing remittance and fund-transfer services. According to the company, one of the key advantages of for users is the ability to link one’s account to a Nomo card and Apple Pay to use globally without international fees.
Image by ADCB
For ADCB’s part the deal comes as a part of the group’s strategy of accelerating its digital transformation. Mr. Ala’a Eraiqat, ADCB Group CEO, and Al Hilal Bank Chairman said the deal would be particularly beneficial for customers looking to control their accounts in the UK without leaving the UAE.
“Today, we offer our customers in the U.A.E. a group of innovative digital services by collaborating with Nomo, the World’s First Islamic Digital Bank, enabling us to offer a unique banking experiences, marked by swiftness and smoothness. This allows our customers to manage and control their accounts in the United Kingdom without having to leave the U.A.E., in a step that confirms the leadership of ADCB in keeping pace with the latest digital banking technology,” he said.
He added, “Both ADCB-Nomo and Al Hilal-Nomo Apps will help provide our customers with the banking services currently offered by Nomo Bank, thus allowing them to manage their wealth and savings internationally by following easy steps and a simple process.”
