Emirates NBD revamps digital bank Liv with new value proposition targeting Gen Now

2 Min | 13 July 2023

Emirates NBD revamps digital bank Liv with new value proposition targeting Gen Now

New proposition offers customers new innovative products and services catering to their unique financial needs
Strategic redirection aimed to further consolidate Emirates NBD’s dominant market presence and reaffirm its position as a digital pioneer leading innovation in the region’s banking sector
Strategic redirection aimed to further consolidate Emirates NBD’s dominant market presence and reaffirm its position as a digital pioneer leading innovation in the region’s banking sector

Dubai, UAE, 13 July 2023: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has revamped its digital bank Liv, with a new value proposition targeted at Generation Now (Gen Now) empowering them with a better financial future through innovative offerings and a superior digital experience.

Reflected in its new tagline, ‘Liv Ahead’, Liv’s differentiated value proposition offers customers a host of new innovative and rewarding products and services. It is the first digital bank to introduce The Bonus Multiplier Account, with a gamified structure and rewarding customers for their loyalty, giving them a 3% increment on their salaries every month. It is also the first digital bank to offer the Money Ahead Deposit, a 4-month fixed deposit with a lucrative interest rate of 4% giving users interest upfront on day one instead of waiting for the deposit tenure to receive the interest.

Liv’s customers benefit from some of the most innovative products and services in the market, like the only credit card that allows switching the rewards between skywards miles and cash back with one click through the App, giving this flexibility to the users instead of customers having to carry two cards. Customers will also have access to enhanced versions of existing products including the popular Goal Accounts, a feature that allows customers to set-and-forget automated rules to easily save money towards their personalised financial goals (For instance, pay-yourself first, save a percentage of what you spend) all while earning attractive returns on their balances. In another first to market, Liv Young – an App designed for kids and teenagers – continues to attract interest in the market, in addition to specially curated lifestyle deals that only Liv customers can benefit through the mobile App.

As customers evolve, become more sophisticated and demand more complex products and personalized services, they can be transitioned to other propositions at the Emirates NBD, allowing them to seamlessly continue their financial journey with the group.

Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, said: “Emirates NBD holds a solid track record of pioneering several first-to-market innovations over the last decade, including Liv, the first digital bank in the UAE. We are excited to bring customers a redefined Liv, built carefully considering the needs of Gen Now. With a fresh-new look and feel, the new Liv further builds on our aspiration to serve as a financial companion to our customers, supporting their financial goals though a host of innovative ground-breaking products.”

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, added: “Young professionals in the Gen Now category, comprising mainly Gen Zs and Gen Ys, have distinct lifestyles influenced by technological sophistication, a higher-than-average tolerance for risk, openness to managing multiple jobs and being more sustainably conscious - all translating to unique financial needs, that an all-purpose digital banking companion like Liv can fulfil. Liv’s transformed proposition resonates and has been aligned with the values and aspirations of Gen Now, 78% of whom would switch their main bank to a fully digital bank, according to an internal study¹ and external data gathered.”

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