Emirates NBD partners with RTA to test online vehicle mortgage release service
- United Arab Emirates: Monday, February 18 - 2013 at 14:04
- PRESS RELEASE
Emirates NBD, a bank in the region, announced that it had entered into a partnership with Roads and Transport Authority (RTA) Dubai, to test the new online Vehicle Mortgage Release service.
"Customer convenience is an important driving factor at Emirates NBD, and we are always on the lookout to partner with like-minded organisations to ease business procedures for our customers," said Suvo Sarkar, General Manager, Retail Banking, Emirates NBD. "With auto loans constituting a significant part of our retail business, the volume of customer traffic can be quite high at our physical branches. The new online service in co-operation with RTA will considerably reduce the turnaround time for customers in getting their vehicle mortgage release letters."
As per the existing process, customers, who wish to clear the mortgage component from their auto registrations, are required to physically obtain a vehicle mortgage release letter from their financing bank, which then has to be submitted to the RTA.
"We are pleased to sign the partnership agreement with Emirates NBD, one of the largest local financial services providers in the region, to test our new online vehicle mortgage release service," said Ahmed Hashem Bahrozyan, Chief Executive Officer - Licensing Agency, RTA. "This partnership will enable us to reach out to Emirates NBD auto loan customers to offer them a speedy and more accurate service, which is also environmentally friendly since it eliminates considerable paperwork."
The new partnership with RTA will also enable Emirates NBD to release vehicle mortgage for its auto loan clients directly from the RTA website, without having to issue a physical vehicle mortgage release letter.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.