Emirates NBD’s digital bank, Liv, just rolled out a couple of new features that, we reckon, make the service even more attractive.
The idea behind Liv is that it’s totally digital. So you sign up online, you submit your documents online, and you bank online. There’s no need whatsoever to visit a branch. It’s owned by Emirates NBD but it operates as its own bank. It’s a properly digital alternative to traditional banking.
Obviously, with such a service, you’d expect some nifty features, and Liv has just come out with a couple of great ones.
Now, using the mobile banking app, you can instantly split bills with friends and family, as well as manage your expenses.
The first feature, dubbed Bill Split, works like this: You pay for a bill at a restaurant with your Liv debit card. But then it’ll send money request notifications via a channel of your choice (like WhatsApp or Facebook) to the people you want to split the bill with. It’ll keep an open list of the people who owe you for the bill, and cross names off once they’ve repaid you.
“Bill Split is a much-needed tool in today’s social environment in which a new generation of consumers rarely carry the correct change or physical cash to pay one another. The feature saves them the hassle of splitting the bill via individual card transactions and bank transfers, and instantly allows them to pay back their friend or family from their smartphone,” said Suvo Sarkar, senior executive vice president, head of Retail Banking and Wealth Management, Emirates NBD.
The other feature, My Tag, does exactly what it says on the tin: It tags different kinds of expenses into different categories, allowing you to see where your money goes month on month. The idea is that, if you’re able to track your expenses, you’ll be able to see where you can make savings and budget more effectively.
Liv launched last year and has appealed to a largely millennial audience. It also provides lifestyle promotions from a range of partner brands.