Best Online Cash Management Bank in Bahrain’ Award for AUB

Ahli United Bank has been named ‘Best Online Cash Management Bank in Bahrain, 2018’ by Global Finance, the leading international finance magazine. AUB won the award on the strength of its innovative digital offerings for corporate, SME and institutional clients and the growing success of its flagship B2B platform for transaction and cash management as the digital channel of choice for an increasing number of top-tier companies in Bahrain and the region. AUB (Kuwait), the Group’s bank in Kuwait, was also recognised as ‘Best Online Cash Management Bank in Kuwait, 2018’, by this New York-based publication.

According to Global Finance, the year’s winning banks were selected from amongst 240 submissions based on the breadth of their product offerings, success in migrating customers to digital platforms, acquiring and retaining new customers, and the use of digital technologies to improve business processes, cut costs and deliver other tangible benefits to their business clients. “We are pleased to receive this prestigious recognition for our operations in both Bahrain and Kuwait. It is gratifying to see our focus and investment in enabling digital transformation continue to yield results, with over 350 major companies in Bahrain along with 200 regional corporate clients now relying on our digital AUB B2B channel as their mission critical platform for their everyday payment and cash management needs,” said Mr J Gurumurthy, Group Head of Technology at AUB.

With scalable modules to process all types of payments including payroll, vendor payments and funds transfer locally and overseas, AUB B2B makes it faster and easier for corporate clients to effect payments to their suppliers and employees on time, simplify their collection and reconciliation process, deposit cheques electronically, accept direct debit transactions and access the cash flow analysis tools they need anytime and anywhere, all through this onestop digital platform. The AUB B2B platform also makes it easy for registered clients to initiate and track a wide range of trade finance and documentary credit transactions from the comfort of their offices, from requesting or renewing a letter of credit or a bank guarantee, to receiving real time notification on the status of their requests, completely online and without the need to physically visit any bank branch.

The AUB B2B solution can also be tailored to meet the requirements of public sector organisations, as it provides for streamlined collection of fees or periodic contributions, real-time updates of customers’ records and electronic capturing of invoices details. It also supports integration with national payment infrastructure channeled through BENEFIT such as Fawri, Fawri+ and Fawateer transactions.