CBI signs deal with RTA Licensing Agency to use online mortgage release service
Sunday, July 07, 2013
Online service offers faster turnaround time for customers wishing to clear mortgage from auto loans
Commercial Bank International (CBI) is the newest partner of the RTA Licensing Agency to offer vehicle owners with auto loans from the Bank, a faster, more convenient way of releasing the mortgage on their auto loan.
The RTA Licensing Agency recently launched a new online service for all vehicle mortgage providers to permanently release a vehicle mortgage as well as provide approval for a vehicle owner to take their mortgaged vehicle out of the UAE, such as on a driving holiday.
CBI customers are now able to directly apply for a vehicle mortgage release via any Dubai based CBI branch or through the Call Centre. In turn, CBI then will permanently release the mortgage on behalf of RTA via the online service, cutting out the usual process of obtaining a physical mortgage release letter from the Bank and submitting it to RTA.
Commenting on the partnership, Chief Executive Officer, Kris Babicci said “We are delighted to partner with RTA to provide our customers with a more convenient service. We are always looking for new ways to enhance our customer’s experience and we are sure that the new online service, in co-operation with RTA will speed up the mortgage release process”.
Ahmed Bahrozyan, RTA Licensing Agency Chief Executive Officer commented “We are happy that CBI, a growing financial service provider in the UAE is our newest service facilitator. We are delighted to stimulate a faster turnaround time for CBI customers and look forward to working closely with the Bank. With mortgage providers such as CBI, linked to RTA, means we also have the ability to provide them with additional services that do not currently exist”.
CBI’s consistent drive to be at the forefront of customer service improvement and convenience follows on from their recent success at the Banker Middle East Industry Award Ceremony where they received recognition for being the Most Improved Bank in the MENA region and Fastest Growing Bank in the UAE.