ADCB partners with Palm Utilities
Abu Dhabi, May 10, 2013
Abu Dhabi Commercial Bank (ADCB) has announced the implementation of a cash management program with Palm Utilities, a Dubai World Company established in 2007 to provide top utility solutions.
The cash management solution is in line with the continuing co-operation and collaboration between ADCB and Palm Utilities. Moreover, it further reaffirms Palm Utilities commitment to adopt modern technology for the benefit of its customers.
The innovative system will enhance operational efficiencies at Palm Utilities through process automation and integration. It offers a rigorous system, which will streamline Palm Utilities accounts receivable and payable function.
ADCB is also implementing its proprietary Host to Host solution at Palm Utilities, which will enable it to optimise operational efficiency in the payment and reconciliation.
Collin Fraser, the head of Wholesale Banking of ADCB said, "As a result of process automation and integration using a straight-through file link-up between our electronic channels, Palm Utilities will observe increased synergies in all transaction processing and reconciliation activities.”
"Technologically-advanced solutions, such as automated integration often require significant implementation periods, due to the complex nature of the exercise," noted Fraser.
"It is testament to the strong business relationship between Palm Utilities and ADCB that this implementation was executed in an exceptionally short time-frame, allowing Palm Utilities to reap the rewards of ADCB’s world class solutions in record time," he added.
Marwan Al Naqi, the CEO of Palm Utilities said this is in line with the continuing co-operation and collaboration between ADCB and Palm Utilities. Moreover, it further reaffirms our commitment to adopt modern technology for the benefit of our customers."
"It will deliver significant benefits that will enhance the operational flexibility of Palm Utilities, ultimately resulting in improved customer services and will have a direct impact in achieving cost savings and increased efficiency," he added.-TradeArabia News Service