Malabar Gold and Diamonds transforms B2B vendor payments through Emirates NBD API banking

Malabar Gold and Diamonds transforms B2B vendor payments through Emirates NBD API banking

Emirates NBD's API Banking solution offers Malabar Gold and Diamonds an integrated payment experience, streamlining supplier payments while ensuring instant reconciliation

Published: Tue 15 Aug 2023, 8:24 PM

Malabar Gold and Diamonds has partnered with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, to automate vendor payments through the use of ‘Emirates NBD API Banking’.

Malabar Gold and Diamonds’ strategic partnership with Emirates NBD has supported the acceleration of its digital transformation strategy while ensuring the highest level of data integrity and security standards. Seamless vendor payments and reconciliation have been among the biggest cash management challenges faced by businesses today and the best solutions have been found in transformative technologies such as application programming interface (APIs). Leveraging bespoke solutions, Emirates NBD has been working closely with the jewellery brand and other clients to streamline and optimise treasury operations.

Using Emirates NBD’s financial APIs, the bank has created an omnichannel vendor management system for Malabar Gold and Diamonds, offering real time transaction processing and status enquiry for all its suppliers. The introduction of Emirates NBD’s APIs has enhanced the efficiency of the brand’s payment process, reducing the overall turnaround time for payments and eliminating the need