Dubai’s RTA to digitize its bank transactions

Dubai’s Roads and Transport Authority (RTA) will fully digitize its bank guarantee management process, cutting its paper usage by 100 percent, it announced on Saturday.

The government entity signed a deal with Dubai’s biggest bank, Emirates NBD, to migrate its transactions online using the bank’s Smart Guarantee Trade Finance Platform.

The platform enables end-to-end paperless handling of guarantees including viewing transaction details online, and making amendments, cancellations, extensions or claims, according to a statement. “This initiative definitely goes in line with Dubai Government’s Paperless Strategy and RTA’s commitment to provide smart services and realize its strategic goal of Smart Dubai,” said Yousef Al-Ridha, RTA’s chief executive office of corporate administrative support services sector.