Prime Highlights
- NBF is advancing digital solutions to support UAE SMEs, helping businesses onboard quickly and manage operations efficiently through platforms like NBF EDGE.
- The bank enhances payment and banking efficiency with tools like NBF Qollect and UAE Pass integration, boosting cash-flow management and secure, instant access for entrepreneurs.
Key Facts
- NBF EDGE allows SMEs to open business accounts fully online without paperwork, accelerating entry into the UAE market.
- The Emerging Business Unit provides tailored guidance and financial tools to support SME growth, including conventional and Islamic banking services.
Background
The National Bank of Fujairah (NBF) is strengthening its role in the UAE’s digital transformation agenda by advancing a wide range of digital solutions designed to support small and medium-sized enterprises (SMEs). As the number of SMEs in the UAE is expected to reach 1 million by 2030, their contribution to economic diversification continues to rise, prompting NBF to make digital innovation a central pillar of its SME strategy.
A major part of this shift is NBF EDGE, a fully digital platform that allows entrepreneurs to open business accounts online without paperwork or visiting a branch. This service speeds up onboarding and helps new companies enter the UAE market quickly.
NBF upgraded its NBF Direct mobile app and added UAE Pass, so customers can log in instantly. This improves security and makes daily banking faster and easier.
In the payments space, the bank introduced NBF Qollect, developed with Pine Labs and Al Etihad Payments (Aani). The solution lets merchants collect payments instantly through dynamic QR codes, cutting settlement times and improving cash-flow management, an important feature for growing SMEs.
To support diverse business needs, NBF’s Emerging Business Unit provides tailored help for SMEs and start-ups. The unit guides each business and provides the right financial tools using digital onboarding and personalized support.
At Gitex Global, NBF announced several partnerships to boost digital trade, AI solutions, cybersecurity, and supply chain resilience. The bank offers both conventional and Islamic banking, showing its commitment to financial inclusion.
With these initiatives, NBF helps UAE businesses, especially SMEs, adopt innovation, improve operations, and explore new opportunities in the digital economy.
