Digital bank Liv. offers region’s first in-app IPO subscription service

Customers of Emirates NBD’s digital bank Liv. can now subscribe to an IPO directly via an app.

The initiative, launched in collaboration with Dubai Financial Market (DFM), aims to support investor participation for upcoming listings. Liv.’s single window platform will enable customers to register their interest for upcoming IPOs and complete payments on the app itself. It also complements Emirates NBD’s existing offerings such as the launch of an IPO subscription website for individual investors earlier this year.

.@LivBank, the digital bank by Emirates NBD becomes the first neo-bank in the region to offer its customers convenient in-app access to IPO subscriptions.https://t.co/1EXcaxyZhq pic.twitter.com/mmCsXWNCUC

— Dubai Media Office (@DXBMediaOffice) November 17, 2022

“With financial awareness taking centre stage and the investment landscape ripening, IPOs are becoming a popular investment option among our customer base,” said Pedro Sousa Cardoso, chief digital officer, retail banking and wealth management, Emirates NBD.

As a digital bank catering to the digitally savvy population, we at Liv. understand that our customers seek a personalised and custom-built experience for their banking services. We are delighted to be the region’s first digital-only bank to provide this service which will enhance our customers’ investment journey and provide a seamless trading experience for UAE investors.”

‘As Liv. becomes the first neo-bank in the region to offer a digital IPO subscription service to its users, Emirates NBD is proud to play a leading role in increasing investor accessibility to UAE capital markets,” added Mohammad AlBastaki, chief executive officer, Emirates NBD Capital.

“Liv. is incredibly popular among the digitally savvy population in the UAE, and its new IPO subscription service will not only provide the young generation of investors easy access to the nation’s capital markets, but also encourage a culture of investing at an early age.”

The in-app IPO offering builds on Liv.’s existing digital propositions such as remote mobile-based account opening and Liv. Goals – a feature enabling customers to set financial goals, among others.

Emirates NBD itself reported Dhs9.1bn in net profit for the first nine months of the year, increasing 25 per cent year-on-year.

Read: Emirates NBD reports 25% rise in net profit for first nine months of 2022