Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, has signed a memorandum of understanding (MoU) with Abu Dhabi Commercial Bank (ADCB), one of the UAE’s leading full-service commercial banks that is known for its digital and secure banking applications and offerings.
This partnership will offer efficient customer service and tailor-made innovative solutions that will help public institutions and local businesses raise their business profile, said a statement.
The MoU was signed between Massimo Falcioni, CEO of Etihad Credit Insurance, and Colin Fraser, head-wholesale banking group of ADCB, in the presence of senior officials from both the organisations.
This alliance, which focuses on encouraging and boosting UAE businesses by offering them wide profile of trade credit solutions and tools, will also support ECI’s mandate to support UAE’s non-oil diversification programme as well as the sustainable development of the country, the statement said.
Under the MoU, both the institutions agreed to collaborate on offering a comprehensive range of trade credit insurance solutions, export and project financing, letters of confirmation, informative workshops, SME funding, and exchange of market intelligence to highlight the risk associated in international trade activities, said the statement.
Falcioni said: “Digital disruption has been slowly transforming the banking landscape. ECI has always been consistently working towards incorporating digital technology through a wide range of innovative trade credit solutions and services that will assist the local businesses to raise their efficiency and productivity thereby strengthening their regional presence and boosting their chances of expansion.
This partnership is a significant step for ECI since ADCB over the years is known for its cutting-edge products, digital banking approach, seamless and secure platforms as well as excellent customer servicing—a rare blend that would significantly help the company to support the UAE businesses.”
Fraser said: “ADCB has always been focused on creating long-term and sustainable value for its customers. We are delighted to partner with ECI since it gives us the opportunity to extend our fast, ‘smart’, agile and secure core banking platform, a broad range of products, outstanding customer service, top-notch digitally innovative tools to help in supporting the ambitions of the UAE’s public and private institutions.” –TradeArabia News Service