Emirates NBD enables H2H digital payment solutions for ENOC Group

ENOC Group is pushing forward on its digitisation strategy through its collaboration with Emirates NBD, with the company successfully implementing the bank’s host-to-host (H2H) services for payments and account reconciliation.

The H2H platform offers advanced internet-based connectivity for the secure and automated exchange of files between ENOC Group’s ERP (Enterprise Resource Planning) and the bank, using secure communication protocols.

The H2H implementation has facilitated the automation of treasury cycles and reconciliation processes through scheduled transmissions.

Following weeks of intensive preparation, planning and testing, ENOC group can now directly initiate and approve local and foreign currency payments from their ERP system, improving their straight-through processing capabilities and automating their reconciliation and treasury activities.

Saif Humaid Al Falasi, group CEO, ENOC, said: “In line with our strategy to enhance business and operations through digitisation, our recent collaboration with Emirates NBD will help streamline payment processes to support treasury operations in an evolving business landscape. As a national oil champion invested in optimising our operations through innovation, we will continue to adopt new technologies and innovative solutions to add value for our business partners in the future, in support of the UAE government’s digital strategy.”

Ahmed Al Qassim, Senior EVP and group head, Corporate & Institutional Banking at Emirates NBD. “We were delighted to support ENOC in this critical project that reflects our commitment to the vision of the UAE’s leadership for a digitised community. We look forward to working closely with other public and private sector institutions as we continue to contribute to the digitisation of banking and payment processes in the UAE.”

In recent news, Emirates NBD has launched the region’s most comprehensive and ready-to-use financial application programming interface (API) developer portal ‘Emirates NBD API Souq’, which will provide fintechs, developers and corporate clients with an all-in-one ecosystem to rapidly develop innovative financial solutions.

Read: Dubai’s Emirates NBD launches API developer portal to drive innovation