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Leading banking group Emirates NBD has announced the launch of the Emirates NBD Digital Asset Lab, a platform that will support and accelerate innovation in digital assets and financial services in the UAE.
Through the Digital Asset Lab, the bank is building a robust platform with industry experts to co-create and experiment with the development of innovative ideas in financial services using digital assets and their underlying technologies.
The lab focuses on digital assets and how the underlying technologies can be leveraged to enable clients to effectively manage their financial services needs in the ever-changing dynamic environment of digital assets. The platform will enable global access to subject matter experts and facilitate education and awareness for the Group and its clients, while increasing efficiency and ensuring security and transparency.
Innovation-focused deals
Most recently, at the Dubai Fintech Summit, the bank signed innovation-focused agreements with professional services firm PwC, which is a founding council member, and digital asset transfer and direct custody technology platform Fireblocks.
Collaboration between the parties is expected to focus on four key pillars, including:
*Strategy and Policy: A Compliance, Risk and Security Framework for Web 3.0 Technologies
*Architecture: Business, Technical and Security Reference Architecture for Web 3.0 Solutions
*Partners: A collection of partners (technical, business and governance) that can support the systems and processes required by Web 3.0 technologies
*Capabilities: Design, build and experiment with new capabilities and value propositions relevant to the Web 3.0 ecosystem
Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said: “As a frontrunner in digital innovation, we have always strived to differentiate ourselves and stay ahead, especially when it comes to keeping pace with the dynamic digital landscape. Our new Digital Asset Lab The launch further strengthens our position as a digital leader and innovator in the financial sector in the region. We are excited to partner with some of the best and most innovative brands in the industry to enhance our customers’ banking experience.”
another big step
He added: “Our new Digital Asset Lab is a hub for innovation, experimentation and collaboration in the digital asset space, supported by industry partners. We see this as the latest solution to accelerate our transformation journey and develop an optimized customer experience Another big step forward in the plan.”
Michael Shaulov, CEO and Co-Founder of Fireblocks, said: “Fireblocks is delighted to join a distinguished group of leading digital innovators as a founding board member of the NBD Group’s Digital Asset Lab in the UAE. This announcement marks another important milestone for the region , creating a springboard for innovation in digital assets and financial services, and placing Dubai on the edge of a new digital frontier.”
Stephen Anderson, Head of Strategy and Markets, PwC Middle East, said: “PwC is honored to partner with the UAE NBD to establish a Digital Asset Lab to accelerate the digital transformation of the region’s financial sector. As a leading advisor in this field, we bring With that comes deep expertise, innovative solutions, and strong ties to the fintech startup/scaling ecosystem. Together, we will create cutting-edge solutions that enhance customer experience and drive inclusion and innovation while maintaining our commitment to trust and accountability Promise of.”- – trade arab news agency
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