Manama, Bahrain: Leading MENA international banking group, Bank ABC, has won two prestigious awards for ‘Best Cash Management Services in the Middle East’ and ‘Best Receivable Finance Services in the Middle East’, which were presented at EMEA Finance’s Treasury Services Awards 2023.
In its 14th annual ceremony, the internationally renowned awards programme recognised the best banks in Europe, Middle East, and Africa (EMEA), that provide treasury and transaction banking services. The awards granted to Bank ABC are a testament to its position as a regional leader in international wholesale banking, driven by strategic investments in both human capital and innovative digital transformation initiatives to strengthen its customer value proposition.
On this achievement, Amr ElNokaly, Bank ABC Group Head of Wholesale Banking, remarked: “We are immensely proud of these awards which attest to our success in transforming our Global Transaction Banking (GTB) business to deliver an enhanced, digitally-empowered customer experience, that meets our clients’ evolving needs, and which differentiates Bank ABC in the market.”
“We will continue to focus our resources towards the digitisation of the full spectrum of our GTB products and services, including Cash Management, Documentary Trade and Supply Chain Finance, across the Group’s international network, which will further enhance our reputation as an innovative, world-class client-centric financial partner,” added Mr. ElNokaly.
Besides receiving the regional awards for its state-of-the-art Cash Management and Receivables Finance platforms, the Bank was also highly commended for introducing other innovations, such as a next-generation blockchain-based cross-border payment service; ABC Trade - a unique cloud-based digital platform offering an enriched Documentary Trade product suite; a regional-first end-to-end digital onboarding service, reducing account opening time to under 8 hours as well as a the first phase of its Wholesale Banking Corporate Portal, which serves as the digital gateway for ABC’s corporate clients to its products and services.
Commenting on the rationale behind Bank ABC’s awards, Christopher Moore, Publisher & CEO of EMEA Finance magazine said: “Bank ABC is clearly redefining the boundaries and outpacing rivals in what is the ‘bread and butter’ of finance. We appreciate how the Bank is identifying, developing, and matching existing solutions to unique client requirements and has exceeded the US$1bn revenue mark for the first time in its 40+ year journey. We believe the investments made over the past two years to futureproof its Global Transaction Banking Offering, will drive customer loyalty and new business simultaneously.
Congratulations to Bank ABC on the many achievements registered in a highly competitive Transaction Banking landscape and on its continuous efforts to support all its customers.”
Further details on Bank ABC’s refreshed strategy to build ‘MENA’s International Bank of the Future’, which will accelerate its core performance in its Wholesale, Retail and Brazil businesses; maximise the value of its digital units, ila and AFS; and strengthen the Group’s operating model, are provided in the Investor Relations section of the Group’s website.
Amr ElNokaly
Bank ABC’s Group Head of Wholesale Banking