Transguard Opens Cash Deposit Centre in The Dubai Mall

New facility to partner with multiple banks to offer faster deposits for corporate and SME banking customers

Dubai, United Arab Emirates – A new chapter in Dubai’s banking sector began today with the opening of Transguard’s Cash Deposit Centre (CDC) in the world’s largest shopping mall. Conveniently located in the banking district of The Dubai Mall, the CDC is Transguard’s latest offering for the banking and retail industries.

“Transguard’s strength is to offer solutions that allow our customers to focus on their core business,” explained Dr. Abdulla Al Hashimi, CEO of Transguard Group. “By offering a separate facility specifically tailored for daily cash deposits, we’re allowing banks to focus on their consumer market while we handle the more labour intensive and time-consuming part of their business.”

The company’s second Cash Deposit Centre after the Gold Souk, The Dubai Mall location acts as a teller counter for multiple banks, a time-saving alternative to standing in long bank queues to make a deposit. The result is faster service for everyone: Corporate and SME depositors can quickly deposit the day’s receipts in the CDC, while individual bank branches will experience queue reductions and because of that, additional opportunities to provide better customer service.

While the CDC is capable of handling deposits for multiple banks under one roof, Emirates NBD is the first major partner in the scheme. With the bank’s flagship location just a few steps away, the collaboration is projected to have an immediate effect.

“We are proud to partner with Transguard in the opening of its second Cash Deposit Centre and are confident this new facility will enhance our offering to corporate and SME clients,” said Abdulla Qassem, Group Chief Operating Officer at Emirates NBD.

Following the successful acquisition of the UAE operations of G4S Cash Services in December 2018, the Cash Deposit Centre is Transguard’s latest initiative for the banking sector, with more to follow. “The cash management sector is a vibrant one, and we’re currently exploring a number of potential solutions that will add even more convenience and accessibility to the UAE’s banks and their customers,” said Greg Ward, Transguard’s Managing Director.

Transguard’s Cash Deposit Centre is located on the Lower Ground level of The Dubai Mall near Grand Parking; it is open six days a week (excluding Fridays and public holidays) from 10am to 10pm.