National Bank of Fujairah Initiates Cloud Project Amid UAE Banks’ Push for Major Tech Enhancements

Dubai’s banking sector is embracing a wave of technological transformation, with the National Bank of Fujairah (NBF) leading the charge. In a landmark move, NBF has partnered with Intellect Global Transaction Banking to integrate cloud solutions into its operations. This collaboration also marks the debut of Microsoft’s Azure-managed services for Intellect’s eMACH.ai cloud platform, setting a new benchmark for digital banking in the UAE.

The UAE’s banking sector has been bustling with tech-driven projects, and analysts predict more announcements before the year ends. While many banks already operate on advanced cloud platforms, the integration of artificial intelligence (AI) demands further refinements and upgrades. Fortunately, the strong financial performance of local banks provides the flexibility to invest in high-value technology projects, ensuring they remain at the forefront of innovation.

In a parallel development, Ajman Bank has joined forces with Magnati, a leading payment transactions platform, to offer an embedded finance solution tailored for small and medium-sized enterprises (SMEs). Announced on October 24, this partnership aims to deliver Sharia-compliant services to Ajman Bank’s SME clients, equipping merchants with the tools needed to scale their businesses effectively.

The collaboration simplifies the application process for SMEs using Magnati’s payment solutions, enabling faster approvals and a more personalised customer experience. A standout feature is the automatic deduction of EMI payments from daily payouts, which enhances cash flow management and provides businesses with greater financial stability.

These initiatives underscore the UAE banking sector’s commitment to leveraging technology for growth and customer satisfaction. By adopting cloud solutions, AI, and embedded finance, banks like NBF and Ajman Bank are not only future-proofing their operations but also setting new standards for innovation in the region. As the sector continues to evolve, these advancements promise to deliver seamless, secure, and customer-centric banking experiences.