In partnership with Emirates NBD, Emirates National Oil Company (ENOC) has announced the installation of a new payment solutions system.
ENOC said the new Host to Host (H2H) platform offered advanced internet-based connectivity for secure and automated exchange of files between the Group’s ERP (enterprise resource planning) and the bank.
According to ENOC, the adoption of H2H integration to simplify payment procedures is consistent with the company’s continued commitment to innovation in order to increase operational effectiveness. Through planned transmissions of the Group, the H2H installation would also enable automation of treasury cycles and reconciliation operations.
With this, they can now directly initiate and approve local and foreign currency payments from their ERP system.
“As a national oil champion invested in optimizing our operations through innovation, we will continue to adopt new technologies and innovative solutions to add value for our business partners in the future,” said by Saif Humaid Al Falasi, Group CEO, ENOC which also sees this collaboration as a helpful support the treasury operations in the developing landscape of business.
“The bank was at the forefront of driving technologies to digitize clients’ processes, bringing greater efficiencies in their day-to-day operations”, Ahmed Al Qassim, senior executive vice president at Emirates NBD said.
“We look forward to working closely with other public and private sector institutions as we continue to contribute to the digitization of banking and payment processes in the UAE,” he said.