DEWA fully digitises bank guarantee management process
In a recent announcement made by Dubai Electricity and Water Authority (DEWA) the organisation has announced its achievement of transforming the bank guarantee management process to become completely paperless.
In doing so, DEWA has reduced the time to complete these types of transactions by 80% when compared to the conventional method. In addition the new solution will minimise errors and improve performance.
“Today’s achievement is part of DEWA’s strategy to enhance digital transformation and achieve the wise leadership vision of His Highness Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to transform the Government of Dubai into a fully digital government and the first paperless government by the end of 2021. DEWA has achieved considerable progress in using advanced technology to build an integrated paperless government framework. This enhances smart adoption with DEWA’s services reaching 98% during the first half of 2020,” commented HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.
DEWA is the first government organisation in the UAE to achieve this step, and has fully digitised its business process alongside Emirates NBD which traditionally used large quantities of paper. The solution developed by DEWA harnesses Robotics Process Automation (RPA) and SAP enhancements, to provide the 100% paperless solution.
“In line with DEWA’s vision to become a globally leading sustainable innovative corporation, we are aiding Dubai’s progress to lead the future. This is being done by reworking the traditional concepts of work mechanisms to suit the rapid changes taking place in the world. This strengthens Dubai’s position as an incubator for creativity and a beacon of innovation. DEWA intensifies its collaboration with its strategic partners to achieve the Dubai 10X initiative, which mandates the Government of Dubai to be a global leader that is 10 years ahead of all other cities through innovative and disruptive technologies,” added Al Tayer.
“As a digital frontrunner that has led innovation in the region’s banking sector, Emirates NBD remains committed to developing innovative ways to digitise the business processes of our clients, enabling them to unlock greater efficiencies in their day-to-day operations, while making banking seamless, faster, and more secure. We are delighted to partner with DEWA to create a completely paperless bank guarantee solution that will not only increase operational efficiencies but also support the Dubai government’s vision of a green economy powered by smart services. We will continue to take the lead in supporting the country’s long-term vision by undertaking more of such collaborations with public and private sector clients,” concluded Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.