United Arab Bank (UAB) joins e&enterprise fintech blockchain platform UAE Trade Connect

United Arab Bank (UAB) joins e&enterprise fintech blockchain platform UAE Trade Connect

Shirish Bhide, CEO of UAB; and Zulqarnain Javaid, CEO of UTC; and other executives at the signing ceremony in Sharjah. — Supplied photo

United Arab Bank (UAB) has announced that it has joined UAE Trade Connect (UTC) as an official member.

UTC, the fintech blockchain platform of e& enterprise, is the UAE's first commercialized solution to combat fraud in the trade finance space built on advanced technologies, namely blockchain and Artificial Intelligence (AI).

UTC is a collaborative project of the banking industry and co-created with e& enterprise. UAE Trade Connect is a cloud-native solution that detects suspicious transactions, prevents fraud and duplication, and supports a wide range of trade-related documents that is validated and inspected in real time.

The signing ceremony was held at UAB’s head office in Sharjah between the signing representatives, CEO of UAB Shirish Bhide and CEO of UTC Zulqarnain Javaid.

“We wholeheartedly support UTC's mission of driving digital transformation and reducing fraud risks. This strategic partnership aligns with UAB's mission to accelerate growth through digitization and to build a secure and transparent trade finance ecosystem,” Shirish Bhide, chief executive officer at UAB, said.

“We are thrilled to benefit from the advantages presented by this agreement in order to provide secure and completely