Punjab National Bank (UAE Branch)
How Alaan helped the international branch of a leading bank get rid of its petty cash management woes
Punjab National Bank (PNB), one of India’s largest public sector banks, brings the trust of 128 years and experience of serving more than 180 million Customers worldwide. The bank has been a leader in the financial ecosphere for decades, and through its representative offices and branches in various countries, has managed to bring its world-class banking services to its customers residing outside India.
The DIFC branch of the bank, based out of DIFC and regulated by DFSA, strives to serve its clients in the region to the highest of standards and has been successfully executing this mission ever since its launch.
A time and effort-intensive petty cash management system
PNB has always been at the forefront of digital banking. While they had great financial operational practices in place, a pain point for the organization was related to their petty cash management in respect of their UAE branch. Traditional methods involving manual paperwork, verification and reconciliations led to delays, errors and inefficiencies. Furthermore, real-time visibility over petty cash transactions was lacking.
There was a need to innovate and coming across Alaan’s launch made PNB realize there was an easy and reliable way to transform their handling of business expenses.
An advanced spend management platform, eliminating the need for manual reimbursement
PNB signed up with Alaan to introduce an expense management solution to address the bank’s challenges. They funded their account, set limits, issued cards, and were up and running in no time!
By issuing Alaan cards to PNB employees in Dubai, the bank replaced their manual reimbursement processes and enabled convenient and transparent petty cash transactions. Along with this, Alaan’s data-rich platform also provided real-time tracking and control, empowering the management team to monitor spending.
Alaan automated the reconciliation process, freeing up valuable time for the team to focus on strategic business planning and analysis. With Alaan, PNB was able to transform its petty cash management, enhancing efficiency and transparency.
A leading bank trusts Alaan to take care of their petty cash needs, what's stopping you? Get in touch and schedule a demo today!