PROXIMA+ supply chain finance solution adopted by Emirates NBD

By Robin Amlot

Neurosoft has announced that PROXIMA+, its high-end factoring and supply chain finance solution, has been adopted by Emirates NBD, a leading bank in the MENAT (Middle East, North Africa and Turkey) region for its corporate and institutional clientele. The bank had already announced earlier this month the launch of its digital supply chain finance platform smartSCF. Suppliers can seamlessly self-on-board via the digital supplier on-boarding toolkit, the first of its kind in the region.

The new platform sits alongside Emirates NBD’s smartBUSINESS, which facilitates business, corporate and institutional customers to perform financial and non-financial transactions at their convenience, securely, 24/7, 365 days a year, and the trade finance portal smartTRADE.

PROXIMA+ is a third generation, web-based end-to-end platform that manages firms’ receivables finance business. It leverages predictive analytics, embedded workflow engine and blockchain technology delivered through an omnichannel UX. It has been designed to cater the need for digitisation of supply chain finance and to help increase operational efficiencies for both corporate clients and their suppliers. The client portal provides enhanced data analytics tools which helps the anchor buyers to gain full visibility on the supply chain finance program and their suppliers to benefit from early payment of invoices through a simple and automated process.

Founded in 1994, Neurosoft began as an in-house software development company providing solutions and services to its clients both in Greece and abroad. Since then, Neurosoft has evolved into a fully integrated ICT company with software development, system integration and information security capabilities, offering its products and services in SEE and MENA.

Emirates NBD is a major player in the UAE corporate segment. As at 30 September 2020, total assets were AED 692 billion, (approx. $188 billion) and the bank is present in 13 countries, with operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the UK, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia.