Liv., the lifestyle digital bank by Emirates NBD for millennials has actually completed its first effective year of operations.

The mobile-only bank, established in 2014 according to the UAE Vision 2021's critical objectives of developing a smart innovation-driven economy, is fast ending up being the bank of selection for the UAE's millennial customer base on the rear of its unique lifestyle-led recommendation, innovative features and gamified advertising campaigns provided in collaboration with like-minded partner companies.

Addressing the media at a press instruction today, Emirates NBDs Abdulla Qassem - Group Chief Operating Officer, Suvo Sarkar - Senior Executive Vice President & Head, Retail Banking & Wealth Management and Jayash Patel - Head of Liv., shared details of the banks successful trajectory since launch.

Key highlights of the journey are as below:

- Fastest growing bank in the UAE acquiring over 10,000 new customers every month
- Over five in six customers are millennials and new to Emirates NBD
- Accounts being opened 24/7, including from remote areas of the country
- Completely digital on-boarding & servicing: no branches, no sales teams, no paper
- Overall cost to income ratios are about half of the main bank
- High engagement with logins every two days on the average
- 25 partners across categories such as Fetchr, Zomato, Souq.com, Careem and others, contributing to UAEs start up economy
- Adjudged Best Digital Bank in the Middle East 2018 by Asian Banker

In line with our vision of furthering digital innovation in the UAE, Emirates NBDs launch of Liv. has helped create a new banking paradigm, said Abdulla Qassem, Group Chief Operating Officer, Emirates NBD. We are incredibly proud of the overwhelmingly positive response that Liv. has received, as we continue to innovate and lead the regions banking sector.

Liv.'s recommendation is built around millennials' view that money is primarily a way to get experiences. The platform incorporates way of life preferences with banking, aiding customers monitor their daily life and their financial resources on one application. Liv.'s innovative features consist of split second and completely paperless account opening, fund transfers through social media channels, performing instantaneous expense divides with good friends, marking costs to keep an eye on spends, global 60-second compensations along with curated daily feeds of picked deals and happenings in the UAE, individualized to the client's preferences.

At the press briefing Liv. announced the launch of Liv. Objectives, a new attribute that allows customers to establish and conserve to monetary objectives to assist them attain even more of what they want, such as travel, buying a new product, to present an enjoyed one or to merely save for a stormy day. Customers could pin a photo of their 'objective' - for example, hiking in Machu Picchu or a new phone they intend to purchase - and choose to conserve in lump sums or in routine instalments along with every single time they cover up their Liv. account or use their debit card, and gain an attractive 2% return on their balances.

" We created Liv. to provide the UAE'S digital-savvy millennial client sector a unique recommendation - a mobile-only financial 'pal' that can understand and allow their way of life and aid them better handle their financial resources," commented Suvo Sarkar, Senior Executive Vice President & Group Head - Retail Banking and Riches Management, Emirates NBD. Liv. will continue to be a key pillar of our future growth strategy as we look to extend the proposition to other markets in the region.

Jayash Patel, Head of Liv. added, "Liv.'s success within its launch year is testament to the growing maturity of the UAE market, as consumers welcome digital innovation in all facets of their life. We remain to buy our offering and enhance allure as we increase our item offering with the launch of brand-new products on the platform."

In the short time because its launch, Liv. has obtained recognition from regional and international awards programmes. Earlier this year, Liv. was recognized as the very best Digital Bank between East by Asian Banker along with for Innovation in Financial Solutions at the Arab Innovation Honors held throughout the inaugural Arab Innovation Summit. Over the past year, Liv. has actually additionally been awarded the Best Digital Banking Experience of the Year at the Seamless Awards 2018, the Digital Leader - Disruption award at Digitrans 2017, the 2018 Dubai Lynx award for Creative Innovation, the 2017 Gold Midas Award in the Financial Technology classification, and was a finalist in the Product & Solution Innovation category at the respected BAI Global Innovation Awards 2017.