Emirates NBD,a leading bank in the region, today announced that its Wholesale Banking unithas introduced a postdatedchequefacility, through smartBUSINESS, its online banking channel.

Corporate customers can now scan postdated chequesthrough ‘ICCS Collect’, the flagship collections offeringon smartBUSINESSanddigitally warehouse these images until the date of clearance. ICCS Collectprovides an efficient online cheque deposit tracking system, auto generated reports, deposit slips and notifications.In addition, the solution supports cheque withdrawals and date extensions,allowingbusiness users to effectively manage their cash flow.

Commenting on the new facility,Jonathan Morris, Senior Executive Vice President, Group Head of Wholesale Banking, Emirates NBD,said: “Emirates NBD is constantly looking for new services to enrich our customer experience. The ICCS Collect product will provide online clearing of cheques and help in the management of receivables. Our online cheque collections service already has wide acceptance and will now be available in two variants as we support both digital and physical warehousing of cheques. We expect a favourable response to the new offering and will continue to look to digitisation in facilitating quicker and easier processes for our customers.”

The digital postdated cheque facilitysolution follows the bank’s continued investment in digital banking as part of its AED 500 million commitment over the next three years to further digital innovation and multichannel transformation of processes, products and services.