NEWS
Emirates NBD and Plug and Play Abu Dhabi continue to explore evolving FinTech potential in risk management
Emirates NBD , a leading banking group in the MENAT region , has continued its strategic partnership with Plug and Play Abu Dhabi , one of the world ’ s largest innovation enablers , this time seeking FinTechs to support the bank in its risk management domain . The campaign calls for leading FinTechs with unmatched technical expertise to bring forth propositions that can enhance the bank ’ s risk management and cybersecurity models .
The collaboration further builds on Plug and Play Abu Dhabi ’ s long-standing partnership with the banking group . Most recently , Emirates Islamic partnered with the platform to drive innovation in the Islamic banking sector . In 2022 , Emirates NBD too had collaborated with the platform to boost its open innovation ecosystem globally .
Through Plug and Play Abu Dhabi ’ s strong global network , Emirates NBD will extend its FinTech collaboration footprint to a wider reach of cutting-edge technology players from around the world .
“ We look forward to the innovative solutions that come out of this collaboration and support the bank in managing risk in a fast-changing economic environment with high volatility ,” said Manoj Chawla , Group Chief Risk Officer , Emirates NBD . “ From cybersecurity risks to credit risks , banks must stay ahead of the curve to ensure the safety and security of their customers ’ assets . Today , we have an exciting opportunity to lead the way once again and address the growing needs of customers .”
Tech Mahindra launches AceFin to assist CFOs with growth
Tech Mahindra , a leading provider of Digital Transformation , consulting and business re-engineering services and solutions , has announced the launch of AceFin , a cognitive AIbased Business-Process-as-a-Service ( BPaaS ) solution designed to provide actionable insights for Chief Finance Officers ( CFOs ). The solution integrates data sources from various IT systems ensuring a ‘ Single Source of Truth ’ that enables timely decisionmaking and maintenance of best-in-class standards in the finance function .
AceFin will support CFOs in tracking company-wide financial and productivity metrics across business units and geographies . The solution will enable area-specific deep dives and drilldowns into any business area or process . AceFin capabilities will allow CFOs with end-to-end finance insights through greater visibility and accessibility by bringing together various finance data elements in real-time . The solution will empower CFOs and their teams to stay on top of problems across business functions and address them in a timely manner by escalating them to the appropriate stakeholders .
“ CFOs are increasingly turning to AI-driven solutions to enhance their decision-making abilities and boost the agility of the Finance and Accounting ( F & A ) functions ,” said Birendra Sen , Business Head , Business Process Services , Tech Mahindra . “ We have been working diligently with a large number of enterprises across verticals to help them manage their CFO needs and service their customers better . AceFin , our AI-based cognitive BPaaS solution for new-age CFOs , meets the growing needs in industrial operations and advances our aim of offering best-inclass digital solutions . AceFin will enable CFOs to make decisions based on deep data insights and AI / ML-based forecasting models . This will essentially empower finance heads to drive profitability and growth while minimising risks .” �
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