Emirates NBD Group, a leading bank in the Middle East, with a balance sheet size of more than 120 billion dollars, went live with RISQ | financial institutions limit management system in its Headquarter in Dubai, UAE in December 2016. The entire deployment (from initial project kick off until go-live) took only four months.
Since then, Emirates NBD Group has successfully rolled out RISQ to all its global branches such as Riyadh (Saudi Arabia), Singapore, London (United Kingdom) [September roll out] and most recently Mumbai, India. This enables now also all branches to locally capture all the facility and commitment requests which impact in real-time all the FI (financial institutions) credit lines managed by the headquarter in Dubai.
RISQ | financial institutions limit management system is a new generation cross asset commercial lending solution which enables its customers to manage more efficiently the full life-cycle of credit lines for financial institutions as well as for non-banking sectors such as international corporates, supranational (e.g. World bank) or insurance companies. It gives full transparency to the entire application process through an industry’s first ‘news feed’, a secured chat linked to each credit application once opened, which enhances internal communication leading to faster credit decisions. It also has components embedded which use AI (artificial intelligence) to optimise unused credit lines or to forecast approval times. It has an integrated real-time RAROC calculator as well open APIs to various source systems such a core banking, trade finance, front office or document management systems.
‘Emirates NBD got a banking license for the Indian market in 2016 and opened their first branch in Mumbai in July 2017. We wanted to make sure that when we open the branch, which mainly focuses on trade finance, we are also live with RISQ. This has enabled us to fully automate all the credit applications, leading to faster credit decisions, improved reporting and enhanced transparency over the life-cycle of all the credit lines we are running’, says Sharad Agarwal, CEO of Emirates NBD India. India is the sixth country where Emirates NBD has in-shore presence after UAE, Saudi Arabia, Egypt, Singapore and UK.
‘We are extremely happy that Emirates NBD group has rolled out RISQ across all its branches globally. It proves the robustness of RISQ as well as that it can significantly add business value not just for the headquarter but also for its branches, further improving the ROI’, says Michael Jesse, CEO of RISQ.
RISQ offers a radically new approach in financial software by addressing significant business challenges banks have in commercial lending and treasury with a highly innovative and fresh approach. It offers the industry’s first smart suite of financial software that uses AI (artificial intelligence) as a core innovation which allows RISQ to fundamentally change the game. This gives its clients a tangible and significant competitive advantage that cannot be achieved with existing solutions available in the market today. The core value of RISQ is ‘simplicity’ and to make financial software as easy, useful, and engaging as tools people use daily such as smartphones, google search or alike. RISQ is headquartered in Dubai, UAE.
RISQ Intelligent Financial Software LLC FZ
Dubai Internet City, Office 207-208, PO BOX 502318, Dubai, United Arab
EmiratesTelephone: +971 4 3901646