DP World, UAE Region achieves 100% conversion in transactions

The new paperless initiative that aligns with the UAE Smart Government Goals was operated in collaboration with Emirates NBD Corporate & Institutional Banking

The region’s smart trade enabler, DP World, UAE Region, leveraged Emirates NBD’S digital collection solution to convert 100 per cent of related counter transactions to online collection on its Smart Transactions plaform in 2020. The initiative was operated in collaboration with Emirates NBD Corporate & Institutional Banking.

Underscoring the relevance of conducting business online and remote working during the ongoing pandemic, DP World, UAE Region, utilised Emirates NBD’S advanced digital infrastructure and expertise to create a digital collections solution. It offers a safe, secure and easily accessible digital alternative to DP World, UAE Region’s customers for paying fees.

The customers opting for digital transactions reflects the remarkable success of the collaboration between DP World, UAE Region and Emirates NBD to help Prepaid and Advance port customers.

Paperless Advance Deposit Account and Prepaid Account Top Up are two solutions that are being widely used for transactions. The enhanced receivables solution employs an Application Programming Interface (Api)-based integration between DP World, UAE Region’s collection (ERP) system and Emirates NBD’S cash/ cheque deposit machines (CDM).

Asim Abdul Wahid Al Abbasi, Chief Financial Officer at DP World, UAE Region said: “We’re extremely pleased that the collaboration we initiated with Emirates NBD is succeeding beyond our expectations.

“The experience of our customers is of paramount importance to us. The Smart Transactions initiative was aimed at discontinuing deposit requests at our service counter, actively encouraging all customers to use the Emirates NBD CDM facilities for top-up requirements.

“The unforeseen circumstances created by the COVID-19 pandemic has expedited and strengthened online transactions as the new normal that customers have come to embrace.”

Al Abbasi added: “Our partnership with Emirates NBD is part of efforts to support the Dubai Paperless Strategy to make all transactions paper-free. In this digital era, efficiency and security of transactions are absolute necessities for businesses and this collaboration with our esteemed banking partners has proved that we’re going in the right direction. Enabling smarter trade is the essence of what we do at DP World, UAE Region and Smart Transactions are enhancing our efficiencies in a meaningful way.”

Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking, Emirates NBD said: “We are delighted to deliver a seamless, secure and innovative payment system that eases the burden of paperwork and brings increased convenience to DP World, UAE Region’s customers. Our agreement builds on Emirates NBD’S commitment to collaborate with large businesses to further the smart nation vision of the UAE.”

The new solution helps DP World, UAE Region’s customers make payments without visiting its service counters while receiving updates in real-time. In addition to successfully reducing the foofall in the branch, the paperless solution demonstrates the trade enabler’s support of the UAE’S smart nation drive.

DP World is the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Their comprehensive range of products and services covers every link of the integrated supply chain from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.

They also deliver these services through an interconnected global network of 136 business units in 61 countries across six continents, with a significant presence both in high-growth and mature markets.

DP World Limited has announced earlier that it handled 19.1 million TEUS (twenty-foot equivalent units) across its global porfolio of container terminals in Q4 2020, with gross container volumes increasing by 7.6 per cent year-on-year on a reported basis and up 6.5 per cent on a like-for-like basis.

On a Fiscal Year (FY) 2020 basis, DP World handled 71.2 million TEUS, flat year-on-year and up 0.2 per cent on a like-for-like basis, the company said in a statement on Monday.

Q4 2020 Like-for-like gross volume growth was mainly driven by India, Europe, Middle East & Africa and Americas with a strong performance from Mundra (India) London Gateway (UK), Roterdam (Netherlands), Antwerp Gateway (Belgium) and Sokhna (Egypt).

In Americas, growth was driven by DP World Santos (Brazil) and Vancouver (Canada). Jebel Ali (UAE) handled 3.4 million TEUS in Q4 2020, up 0.3 per cent year-on-year.

At a consolidated level, DP World terminals handled 11.2 million TEUS during Q4 2020, increasing 10.1 per cent on a reported basis and up 5.2 per cent on a like-for-like basis. On a FY2020 consolidated basis, DP World handled 41.7 million TEUS, up 4.6 per cent on a reported basis and down 1.8 per cent on a like-for-like basis.

The reported FY 2020 growth of 33.3 per cent in Americas and Australia region is mainly due to the consolidation of Caucedo (Dominican Republic) and acquisition of Fraser Surrey Docks (Canada).

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, commented, “We are delighted to report another set of positive volume figures for Q4 2020 with like-for-like growth accelerating to 6.5 per cent. This strong end to the year resulted in flat growth in 2020 which compares favourably against an industry that is estimated to be down 2.1 per cent. Overall, this once again illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.