ENOC Group (Emirates National Oil Company) has accelerated its digitalisation strategy through work in partnership with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa, and Turkey) region, to implement innovative payment solutions. ENOC Group has effectively applied Emirates NBD’s Host to Host services for account reconciliation and payments. The H2H platform presents enhanced internet-based connectivity for the secure and automated exchange of files between ENOC Group’s ERP (Enterprise Resource Planning) and the bank, utilizing secure communication protocols. The H2H application for ENOC Group has accelerated the automation of treasury cycles and reconciliation processes all through scheduled transmissions.
ENOC Group’s application of H2H integration
ENOC’s application of H2H integration to streamline its payment processes is aligned with its continuing emphasis on innovation to drive operational efficiency. Consequent weeks of intensive planning and testing and formulation, ENOC Group can now completely introduce and authorize local and foreign currency payments from their ERP system, enhancing their straight-through automating their reconciliation and treasury activities and processing capabilities.
His Excellency Saif Humaid Al Falasi, Group CEO, ENOC Group, said that the group’s recent partnership with Emirates NBD would help streamline payment processes to support treasury operations in an evolving business landscape, in line with their strategy to enhance business and processes through digitalisation.
As a national oil holder financed in optimising their operations through innovation, Enoc would continue to implement innovative technologies and pioneering solutions to add value for their business partners in the future, in assistance of the UAE Government’s digital strategy.
Emirates NBD is at the vanguard of pushing technologies to digitise clients’ procedures, brining larger competences in their everyday operations, and making banking smoother, faster and more secure, said Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking at Emirates NBD.
Al Qassim added that the team is seeing ahead to operate closely with other private and public sector institutions as the company continues to support to the digitisation of payment and banking processes in the UAE.