Remittances sent from the UAE have significantly increased as a result of the country's expanding expatriate population and rising cross-border commerce volume. Emirates NBD aims to improve its remittance service by providing consumers in the UAE with real-time, affordable payment solutions that are quick and unmatched in reliability by utilizing Nium's payout services.

Subject to regulatory permissions, the cooperation aims to improve the remittance experience by facilitating faster and more seamless cross-border transactions between the United Arab Emirates and other nations.

The significance of enhancing Emirates NBD's remittance service for citizens of the United Arab Emirates was highlighted by Marwan Hadi, group head of retail banking and wealth management: "Emirates NBD, a prominent national banking organization, has actively contributed to the advancement of all of our banking solutions.

"Our clients will be able to conduct smooth international transactions thanks to our relationship with Nium, a leader in real-time cross-border payments. This partnership demonstrates the bank's dedication to adopting cutting-edge technology and going above and beyond to provide excellence.
 

"Nium is focused on achieving ubiquitous reach of our global payments infrastructure," stated Prajit Nanu, the company's founder and CEO. We have been increasing our efforts to expand in the Middle East because it is one of our most important markets.

"With one of the most reputable brands in the area, our alliance with Emirates NBD expands our reach into the core of the Middle East. With this agreement, Emirates NBD, a pillar of the global digital banking sector, will be able to transfer trillions of dollars' worth of money across the region and beyond on our global infrastructure. Nium anticipates being able to move more money in real-time.