Commercial Bank of Dubai Pioneers Global Account Validation with J.P. Morgan's Liink & Kinexys
This advancement streamlines cross-border payments, ensuring faster and more reliable transactions.
Commercial Bank of Dubai (CBD) has set a new benchmark in the region by becoming the first bank in the Middle East to integrate the Kinexys Liink application, Confirm, from Kinexys by J.P. Morgan. This groundbreaking addition to CBD’s corporate banking portal and mobile app reaffirms its commitment to a digital-first strategy, aiming to revolutionize financial services through cutting-edge technology.
Enhancing Cross-Border Payment Efficiency
Driven by a mission to enhance service delivery and optimize digital solutions, CBD continues to lead in transforming banking experiences. With this integration, corporate clients now benefit from smoother and more secure cross-border payments, significantly improving account validation speed, accuracy, and security.
Revolutionizing Financial Infrastructure with Blockchain
Kinexys Liink is the world’s first bank-led, peer-to-peer data-sharing network, operating under Kinexys by J.P. Morgan. This blockchain-powered business unit is designed to reshape financial infrastructure. The Confirm application, a key component of Kinexys Liink, enables real-time validation of beneficiary bank account details, including ownership and status. This minimizes payment delays, prevents unnecessary fees, and combats fraud, ensuring seamless international transactions.
Dr. Bernd van Linder, Chief Executive Officer of CBD, commented, "At CBD, payments transformation is part of our journey to create an efficient banking system for our customers. We innovate with purpose, ensuring that every new solution we introduce directly benefits our customers and contributes to the broader financial ecosystem. By integrating the Kinexys Liink application Confirm, we are eliminating pain points in cross-border payments while also reinforcing the UAE’s position as a hub for secure and efficient financial transactions. This integration marks an important step in strengthening the region’s payment infrastructure and supporting businesses with safer, faster, and more reliable banking solutions."
Naveen Mallela, global co-head of Kinexys by J.P. Morgan, said, "We are committed to developing solutions that enhance the speed, security, and reliability of global cross-border payments. CBD’s integration to the Kinexys Liink network helps bring these benefits to the region, and we look forward to expanding the reach of Kinexys Liink to further strengthen cross-border payment infrastructure globally.”
Strategic Rollout in Key Markets
In its initial phase, CBD is focusing on high-traffic payment corridors—namely, the United States and India. Corporate clients using CBD’s iBusiness online and mobile banking platforms can now verify beneficiary details before processing transactions. This proactive approach improves payment accuracy, reduces investigation cases, and enhances fraud prevention mechanisms. The successful launch paves the way for broader international expansion soon.
Empowering Businesses and Driving Growth
CBD takes pride in spearheading the adoption of the Kinexys Liink Confirm application, reinforcing its vision to drive business growth and create new opportunities in the UAE’s financial landscape. By leveraging cutting-edge digital solutions, the bank remains at the forefront of innovation, ensuring its clients have access to the most advanced banking tools available today.
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