Dubai’s RTA to go paperless with its bank transactions

DUBAI: Dubai’s Roads and Transport Authority (RTA) will fully digitize its bank guarantee management process, cutting its paper usage by 100 percent, it announced on Saturday.

The government entity signed a deal with Dubai’s biggest bank, Emirates NBD, to migrate its transactions online using the bank’s Smart Guarantee Trade Finance Platform.

The platform enables end-to-end paperless handling of guarantees including viewing transaction details online, and making amendments, cancelations, extensions or claims, according to a statement.