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DEWA’s Smart Bank Guarantee system reduces transaction turnaround time by 95% · DEWA Podcasts

• 0:00
  Let's talk about the Smart Bank Guarantee System
• 0:02
  from the Dubai Electricity and Water Authority.
• 0:05
  What has it achieved? His Excellency Saeed Mohamed
• 0:09
  Altair, Managing Director and Chief Executive
• 0:11
  Officer of the Dubai Electricity and Water Authority,
• 0:14
  announced that the Smart Bank Guarantee System
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  has reduced transaction turnaround time by 95
• 0:20
  % and decreased reliance on physical bank guarantees
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  by 74%. The system processes approximately 2
• 0:28
  ,500 bank guarantees annually, with a total value
• 0:31
  of around $1 billion AED. What does His Excellency
• 0:36
  say about it? His Excellency Saeed Mohammed Al
• 0:39
  -Tayr said, We continue to leverage cutting -edge
• 0:42
  digital technologies and artificial intelligence
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  to redesign organizational operations and enhance
• 0:47
  efficiency, supporting Dubai's vision for digital
• 0:50
  leadership while delivering faster, more resilient
• 0:53
  and proactive services. We are developing an
• 0:56
  AI -driven integrated operational model that
• 0:59
  achieves the highest levels of operational efficiency
• 1:01
  and sustainability, contributes to zero bureaucracy,
• 1:04
  and enhances customer and employee experiences.
• 1:07
  The smart bank guarantee system advances bank
• 1:10
  guarantee management through faster, more accurate,
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  and resilient procedures, supporting the optimal
• 1:15
  utilization of resources and increasing workforce
• 1:17
  productivity. It also supports the Dubai Electricity
• 1:21
  and Water Authority's efforts to expand the use
• 1:23
  of robotic process automation, which helps automate
• 1:26
  repetitive procedures and tasks, eliminating
• 1:28
  routine work. And what does the system actually
• 1:31
  do? It manages the entire bank guarantee lifecycle
• 1:34
  through integrated digital processes, including
• 1:37
  receipt, review, updates, and follow -up. It
• 1:41
  replaces paper -based procedures and manual tracking
• 1:44
  with a fully digital ecosystem. enabling real
• 1:47
  -time tracking and data updates, while enhancing
• 1:50
  data quality, governance, and financial control
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  through automated processing and verification
• 1:55
  powered by robotic process automation -based
• 1:59
  validation, SWIFT authentication, and SAP -linked
• 2:02
  digital audit trails. Has it received any recognition?
• 2:07
  Yes. It has earned a five -star rating at the
• 2:10
  International Best Practice Competition. This
• 2:13
  reflects the maturity of the Dubai Electricity
• 2:16
  and Water Authority's digital transformation
• 2:18
  ecosystem and its success in converting financial
• 2:21
  and administrative procedures into smart models
• 2:24
  that reinforce Dubai's position as a global leader
• 2:27
  in future ready government services. Thank you
• 2:30
  for that overview.