Emirates NBD Teams Up with Alba Cars on Digital Credit Solution for Dealers
This landmark partnership establishes a collaborative framework between the two market-leading entities, specifically designed to deliver premium automotive financing solutions to dealers and partners across the UAE.
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, signed a strategic Memorandum of Understanding (MoU) with Alba Cars , Dubai’s most trusted used-car showroom to offer a digital revolving short-term loan to partners and dealers.
This landmark partnership establishes a collaborative framework between the two market-leading entities, specifically designed to deliver premium automotive financing solutions to dealers and partners across the UAE. The new offering empowers eligible businesses to instantly access funds, use, repay and replenish their credit line through a fully digital and compliant API-driven journey with the bank. This means they can manage their working capital more efficiently, replenish liquidity and improve their overall business operations.
Leveraging Emirates NBD’s digital and financial innovation, Alba Cars will gain seamless access to instant loan creation, usage and repayment. The API integration reduces turnaround time from days to seconds, with 100% straight-through processing with zero manual intervention for eligible partners and dealers. It also offers them continuous credit flexibility with the capability to instantly refresh their limit after repayment.
“We are pleased to partner with Alba Cars and support the company in setting new benchmarks in the pre-owned car industry. At Emirates NBD, we are committed to creating transformative digital experiences for our customers and partners to unlock new possibilities. Our digital revolving short-term credit loan offers a tailored collection of benefits for dealers and partners associated with Alba Cars. Together we offer a platform that is intuitive and convenient and operates with speed and seamless efficiency.”
– Hamad Mohamed Zayed, Group Head of Business Banking, Emirates NBD
“Our partnership with Emirates NBD underscores our commitment to providing our clients with not only the finest vehicles, but also the most flexible and convenient purchasing journeys in the region. Through this partnership, we are not just offering financing; we are delivering unparalleled agility and efficiency to elevate Dubai’s premium and luxury pre-owned automotive market.”
– Talib Al Rubai, CEO, Alba Cars
