The Central Bank of the UAE (CBUAE) reported that it is already collaborating with SWIFT on a project to improve the pace and accountability of cross-border transactions. The CBUAE would be the world's first central bank to launch such an effort.

The convergence of the CBUAE's domestic UAE Funds Transfer System (UAEFTS) and SWIFT's ‘GPI tracker' would enable financial institutions sending cross-border transactions to the UAE to benefit from higher transparency, certainty, and smooth transmission between both the SWIFT network and the UAEFTS by depending on the Tracker, a mechanism given by SWIFT that allows banks to monitor their payment feasibilities.

When a cross-border transfer hits UAEFTS and also the funds are transferred to the final beneficiary's account in the UAE, UAEFTS will upgrade the SWIFT Tracker tool on their behalf.

The capacity for the sending bank to register transfers in real-time before they are transferred to the final beneficiary's customer account in the UAE would be added to the features of UAEFTS. This would provide users the most up-to-date information on current cross-border payments.

“We are pleased to introduce this initiative because it further improves the competitiveness of the UAE financial sector, enhances interoperability between foreign and domestic payment systems, and improves openness to deliver best-in-class customer service,” said Dr. Sabri Al Azazi, Chief Operating Officer of the Central Bank of the UAE.

SWIFT's Chief Strategy Officer, David Watson, said, "The launch of this project would boost the experience of banking firms and their consumers who send payouts to the UAE from around the world." It is indeed the first of its kind, and we're excited to bring this idea to other businesses.”

On Wednesday, TAMM revealed that the TAMM app is now open to all group members. This transition needs to make them the ability to test the app using the digital resources available by it to improve the reliability and consistency of government facilities offered, ultimately leading 100% of Abu Dhabi Government online services on the TAMM app by the end of 2021.

The Higher Committee of Digital Government welcomes the Abu Dhabi community to install and evaluate the TAMM app, in which 80 % of Abu Dhabi Government's online services have now been created and added, giving users access to 570 internet platforms. The Committee invites all community members to collaborate to explore and try the delivered digital resources, provide input and ideas, and be a part of the implementation process to deepen their perspectives and shape the future of government facilities in Abu Dhabi.

TAMM, a Ghadan 21 project, uses cutting-edge innovations to provide a variety of government facilities in a single online venue. The software, which is available for free on the Apple App Store and Google Play, has detailed information on government facilities and more than 55 digital records. To further enhance the user experience, users can execute 93 % of government purchases in under six minutes using an easy and streamlined approach.

“Engaging the Abu Dhabi group in constructing and improving the TAMM app is a big goal to accomplish perfection in delivering government services in the emirate,” said Ali Rashid Al Ketbi, Chairman of the Department of Government Support – Abu Dhabi. The introduction of the TAMM app is in sync with Abu Dhabi's ambitious goal for digitalization, and a product of Ghadan 21, the emirate's accelerator initiative which is guiding the emirate's growth through investments in industry, creativity, and people.”

“We are incredibly proud of the partnership with government agencies in Abu Dhabi that contributed to the current development process of the TAMM app,” Al Ketbi said. When completed, the application will become the go-to portal for all Abu Dhabi residents and people seeking information or accessing a wide variety of governmental facilities, including transactions.

The TAMM app represents the leadership's vision of putting creativity and digitalization at the frontline of its agendas to better address the requirements of the Abu Dhabi people, and it is consistent with the Abu Dhabi Government's efforts to boost digital transformation throughout the emirate.

“Although it is our dream to have a stable and healthy community in Abu Dhabi, we also must serve people and people and bring comfort and ease to their everyday lives,” said Major General Maktoum Ali Al Sharifi, Director General of Abu Dhabi Police. The addition of government resources to the TAMM mobile app is a significant move forward in our opportunities to better serve our consumers. People will now check on TAMM to take advantage of various facilities such as scheduling driving test appointments and modifying their driving licenses without ever leaving their house.”

“Now that the group has access to the app, we look forward to getting their feedback to improve it and enhance the user experience,” Al Sharifi said.

“We are delighted to be a part of TAMM, and we applaud them for their success in promoting digitalization in Abu Dhabi,” said Mohammad Juma Bin Jarsh Al Falasi, Undersecretary of the Abu Dhabi Department of Energy, DoE. This is an important step in how we can work with and engage with consumers in the future; therefore, consumer views are among the most important factors for the progress of this application and a key pillar in reaching our optimistic targets as soon as possible.

This transition would not only familiarize consumers with implementing technologies to complete offerings, but it also aligns well with our goals of ensuring high standards of quality and fostering environmental stability."

“Aspiring to cultivate a culture of creativity is a value that we firmly believe in, and it is fitting to be part of a creative digital environment by TAMM,” said Rashid Abdul Karim Al Balooshi, Undersecretary of the Abu Dhabi Department of Economic Development, DED.