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Emirates Development Bank goes live with Tagit’s Digital Corporate Banking Product in 3 months

Singapore, 24 May 2024: Emirates Development Bank (“EDB” or “the Bank”), the key financial engine of UAE economic
development and industrial advancement, has launched a Cash Management online portal for its business clients,
developed in collaboration with Tagit an omnichannel digital banking solutions provider.

The innovative solution aims to simplify and streamline cash flow processes and empower the Bank’s respective
clients with greater control and efficiency in managing their financial needs. Easy access to these new services will
encourage customers to adopt digital channels, thus enabling the Bank to compete and grow in the market.

The project was rapidly implemented in 11 weeks from Project initiation. The solution was delivered using the Mobeix
Corporate Banking Product which will enable the bank to constantly innovate and expand their offerings as their
customer base grows.

EDB has been instrumental in UAE’s economic advancement through strategic initiatives fostering innovation,
entrepreneurship, and sustainable growth. As the sole development bank in the UAE, EDB focuses on financing
transactions and projects crucial for national development and economic prosperity. EDB’s contributions to UAE’s
industrial GDP and support for Small and Medium-sized Enterprises (SMEs) are notable, bolstering innovation and
growth vital to the economy.

Sandeep Bagaria, CEO of Tagit said “EDB has an exceptional vision to provide next generation digital banking
services to their customers and we are delighted to partner with them on their digital innovation journey.” He added
“Our strategic partnership with EDB reinforces our unwavering commitment to the Middle East Region to deliver
world-class products and services to banks and financial institutions in the region.

This strategic alliance seeks to transform EDB’s corporate banking services, enabling the Bank to offer best-in-class
digital solutions designed to cater to the varied requirements of its customers and delivering greater value to all
stakeholders. The engagement is supported by Tagit’s local partner Stratic Consulting.

Some of the key features of the Cash Management Online Portal:

The Mobeix platform will provide the Bank’s business banking customers with seamless orchestration of services across mobile and web, comprehensive features, outstanding UX and robust security. This will increase the market reach, faster time-to-market and enhance customer engagement.

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