Liv., the mobile banking unit of Emirates NBD, has signed a multi-year agreement with Australian fintech firm Verrency to support payments innovation.
Under the partnership, Liv cloud-based payments will be powered by Verrency. The aim is to offer various value-added services to customers in a cost-effective manner.
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Liv cloud-based payments
Verrency commercial director for Asia and Middle East Aaron Oliver said: “Verrency will enable Liv. to deliver on its innovation-led proposition by launching multiple global firsts in payments technology and rapidly deploy value-added services to UAE consumers.
“By subscribing to the Verrency service, Liv. will be able to cost-effectively remain at the forefront of digital banking by continually enhancing its capabilities via easy connections to multiple service providers without requiring significant change in its existing payments and technology infrastructure.”
Liv. was launched by Emirates NBD last year and currently has a client base of more than 150,000.
The mobile bank facilitates instant account opening, money transfers through social media channels, instant bill splits with friends, as well as international 60-second remittances. It also enables users to monitor their spending.
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By GlobalDataLiv. head Jayash Patel said: “As a digital only bank catering to the connected generation, we constantly seek ways to outpace traditional players, and our partnership with Verrency will enable us to securely deliver innovation at fintech pace.”
