Celent recognizes Emirates NBD as the 2020 Model Bank winner for Best Digital Bank for Liv. By Emirates NBD.
Emirates NBD created Liv. in 2017 as a digital-only lifestyle bank targeting the needs of millennials. It is built around two specific components: Liv. Today’s Page and Liv. Bank. Today’s Page is a tailored lifestyle feed for offers, events, news, and more powered by an ecosystem of partner brands. The Liv. Bank account features capabilities like personalized credit card rewards, mobile/digital insurance, credit scores, real-time transactional insights, and savings accounts for lifestyle goals.
The idea behind Liv. was to bring something new to banking and not just replicate what had been done in the past. It is a view to the future of financial services, where ecosystems drive value creation and consumer demand is generated through digitally-driven trusted advisory. Banking will continue to see new entrants looking to disintermediate and transform the status quo. Rapidly changing customer demographics, new technology, and an increasingly diverse set of competitors will change the industry dynamics. How banks react will be key to thriving in the new era of banking. Emirates NBD shows the success an incumbent can have building a bank to meet these needs.
