Latest news with #DigitalTransformation
Zawya
2 days ago
- Business
- Zawya
Dubai Land Department unveils first-of-its-kind Property Token Ownership Certificate
DUBAI - Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenized real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch. This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation. The first project launched under the Real Estate Tokenization Initiative attracted 224 investors, 70% of whom entered Dubai's real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714. As the region's first platform of its kind, the initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests. This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models. Dubai Land Department developed the Real Estate Tokenization project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. It is being executed through Prypco Mint. The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33. Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking new opportunities for digital property investment.
Emirates 24/7
2 days ago
- Business
- Emirates 24/7
Dubai Land Department unveils first-of-its-kind Property Token Ownership Certificate
Dubai Land Department has launched the world's first Property Token Ownership Certificate, following the successful sale of the first tokenized real estate project on the 'Prypco Mint' platform — licensed by VARA — within just one day of launch. This milestone further reinforces Dubai's position as a global leader in real estate innovation and digital transformation. The first project launched under the Real Estate Tokenization Initiative attracted 224 investors, 70% of whom entered Dubai's real estate market for the first time. This highlights strong investor confidence and the accessibility provided by flexible, low-cost digital solutions. Investors represented 44 nationalities, and the average individual investment amounted to AED10,714. As the region's first platform of its kind, the initiative continues to draw significant interest, with the waitlist exceeding 6,000 requests. This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models. Dubai Land Department developed the Real Estate Tokenization project in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Central Bank of the United Arab Emirates and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. It is being executed through Prypco Mint. The initiative aims to broaden the real estate investor base while enhancing transparency and accelerating transaction processes, aligning with the Dubai Real Estate Strategy 2033 goals and the Dubai Economic Agenda D33. Dubai Land Department is currently working to enable real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking new opportunities for digital property investment. Follow Emirates 24|7 on Google News.
National Post
2 days ago
- Business
- National Post
Medavie Blue Cross Leads Digital Transformation in Disability Business with FINEOS Platform
Article content Article content ATLANTA — FINEOS Corporation ( ASX:FCL) announced today that Medavie Blue Cross, a leading benefits provider for health, drug and disability insurance, has successfully commenced managing Individual Life and Disability Claims on their existing FINEOS Platform. In consolidating both Individual Life and Group Life & Disability claims on a single, unified platform, Medavie Blue Cross will further strengthen its operational excellence and customer-centric service. Article content Speaking about the go-live, FINEOS CEO, Michael Kelly, said, 'Medavie Blue Cross has been leading the way in Group Disability claims management with FINEOS. Expanding to include Individual Life claims in one platform marks a significant milestone, demonstrating our shared commitment to innovation, operational efficiency and a seamless customer experience.' Article content Rebecca Smith, Director, Life & Disability Services at Medavie Blue Cross, noted, 'We're excited about the possibilities this opens up for our organization and our clients. By unifying our claims management system, we're not just improving efficiency; we're reimagining the entire claims experience and empowering our talented team to deliver exceptional service. This transition reinforces our position as an industry leader in disability management and in embracing digital transformation to set new standards.' Article content Medavie Blue Cross is a leading all-in-one private health insurer and Canada's largest private administrator of federal and provincial government-sponsored health programs. We manage and insure health benefits for nearly 1 in 10 Canadians and provide timely access to quality health care through a comprehensive suite of innovative products and services. Together with Medavie Health Services, a national leader in primary health care solutions and Canada's largest contracted provider of emergency medical services, we're part of Medavie — a not-for-profit health solutions partner committed to improving the wellbeing of Canadians. Article content FINEOS is a leading global provider of SaaS core systems for life, accident, and health insurers. The FINEOS Platform for Employee Benefits is purpose-built for group, absence, and supplemental benefits, providing seamless integration and automation. More than 40 customers in North America rely on FINEOS, including 7 of the 10 largest employee benefits insurers in the U.S. and 70% of group insurance in Australia. With a global workforce, FINEOS partners with innovative, forward-thinking insurers in North America, EMEA, and Asia-Pacific. Article content Article content Article content Article content Article content Contacts Article content Article content Article content
Finextra
2 days ago
- Business
- Finextra
Ajman Bank appoints head of fintech and AI
Ajman Bank has announced the appointment of Tahir Turksoy as the Head of Fintech & AI within the Consumer Banking Division, effective 7 April 2025. 0 In his new role, Tahir will report directly to Faizal Kundil, Head of Consumer Banking, and will lead the bank's digital transformation initiatives, reinforcing Ajman Bank's strategic commitment to innovation and customer-centric digital banking. Tahir Turksoy brings over 20 years of profound expertise in seamlessly integrating business objectives with cutting-edge technology. His proven track record encompasses the development and execution of comprehensive digital transformation strategies, the creation of robust online and mobile platforms, the digitization of branch operations, and the implementation of solutions deeply rooted in customer needs. His strategic acumen and analytical capabilities have consistently empowered organizations to foster innovation, elevate customer experiences, and optimize digital business models. Commenting on the appointment, Faizal Kundil, Head of Consumer Banking at Ajman Bank, said: 'We are delighted to welcome Tahir to Ajman Bank. His extensive expertise in fintech and digital transformation will be invaluable as we continue to reimagine and enhance the banking experience for our customers. This appointment reflects our ongoing commitment to building a digitally advanced and innovation-led consumer banking business.' Prior to joining Ajman Bank, Tahir was the Head of Digital at National Bonds Corporation, where he played a key role in elevating digital distribution, streamlining customer onboarding, and accelerating growth through digital-first product offerings. His leadership contributed to increased acquisition and fund mobilisation through tech-enabled engagement. Tahir has also held senior roles at some of the region's leading financial institutions including Mashreq Bank, First Gulf Bank, and DenizBank, where he led transformative digital banking projects, from branch digitisation and mobile banking to open finance integration and self-service banking optimisation.
Al Bawaba
3 days ago
- Business
- Al Bawaba
NBB Named Best Bank in Bahrain at Euromoney Awards for Excellence 2025
The National Bank of Bahrain (NBB) has been named Best Bank in Bahrain at the 2025 Euromoney Awards for Excellence for its standout financial performance, digital transformation initiatives and customer centric approach throughout the past year. The Bank was also honoured as Best Bank for ESG and Best Bank for Corporate Responsibility, reaffirming its role as a national leader in responsible banking and meaningful community on the occasion, Usman Ahmed, Group Chief Executive Officer of NBB stated, 'The recognition as Bahrain's Best Bank is the result of a focused strategy, with execution rooted in robust governance, innovation-led banking, and a pledge to contribute to national development. We continue to build on our legacy by enhancing client offerings through digitalisation, integrating sustainability into our business at every level and expanding regionally. These awards reflect the collective efforts of our team, who remain passionate about pursuing excellence across all aspects of the NBB Group's operations."For his part, Ben Naylor, Global Head of Research at Euromoney, remarked, 'NBB achieved strong growth with a 7% rise in assets and 11% increase in profits. The Bank advanced its digital transformation agenda, expanded sustainably, and launched Bahrain's first Bitcoin-linked investment product. Strategic execution boosted lending by 16%, while its continued emphasis on sustainability and innovation is helping reshape Bahrain's banking sector. NBB's diverse initiatives encompass CSR, employee engagement, and community support. In 2024, the Bank backed vulnerable groups, supported youth sports and education, launched a donations fund for urgent needs, and led notable environmental efforts. They also inaugurated a LEED Platinum-certified branch, launched a new Sustainable Management Committee, and recorded major energy and emissions reductions, demonstrating a firm commitment to ESG principles. These efforts were complemented with the financing of key social infrastructure, leading Bahrain's first sustainability-linked interest rate swap, advancing sustainable finance and governance standards.'The Bank's innovation-driven ethos remained a defining strength throughout the year, with an 84% increase in newly onboarded retail customers via digital channels and a 23% increase in digitally registered users. NBB launched a host of solutions that serve the dynamic needs of its business as well as consumer banking expanding its consumer banking proposition to cater to younger customer demographics, the Bank introduced the Yalla Family Account. The product is offered as part of the NBB Digital Banking app to instil responsible spending habits among the youth, while allowing parents to onboard their children and manage their accounts directly through the digital ahead of the trends shaping global financial markets, NBB also introduced the GCC's first Bitcoin-linked structured investment product. The offering is designed for accredited investors and provides them with capital-protected exposure to Bitcoin's performance, thereby marking a pioneering investment solution that combines innovation with risk its business clientele, the Bank delivered DigiCorp, a revamped corporate banking platform that offers secure and efficient financial management. Complementing DigiCorp were DigiConnect, a new host-to-host integration solution designed to streamline payment and reconciliation processes for large corporates, and the Enterprise Liquidity Management Solution (eLMS), which helps clients optimise balances, pool funds from different accounts, and manage daily liquidity. Additionally, NBB Go, Bahrain's first SoftPOS (Software Point-of-Sale) solution, enabled small merchants to use their NFC-enabled Android smartphones to securely accept payments. Together, these three Euromoney Awards for Excellence further reinforce NBB's purpose-driven vision that is redefining modern banking and reinforce its position as Bahrain's leading financial institution.
