DEWA says smart bank guarantee system cuts transaction time by 95 percent
In short
Dubai Electricity and Water Authority (DEWA) said its Smart Bank Guarantee System has cut transaction turnaround time by 95 percent and reduced reliance on physical bank guarantees by 74 percent. The system handles about 2,500 bank guarantees a year worth roughly Dh1 billion, according to the utility. DEWA chief executive Saeed Mohammed Al Tayer said the system uses automation and artificial intelligence to speed up procedures.
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Dubai Electricity and Water Authority (DEWA) said its Smart Bank Guarantee System has reduced transaction turnaround time by 95 percent, according to both the official agency and the business outlet carrying the announcement. Saeed Mohammed Al Tayer, DEWA's managing director and chief executive, also said reliance on physical bank guarantees fell by 74 percent, a figure that appeared in the business outlet's report. [ 1 , 2 ]
The utility said the system processes approximately 2,500 bank guarantees annually, with a total value of around Dh1 billion. According to the report, it manages the entire bank guarantee lifecycle through integrated digital processes, including receipt, review, updates and follow-up, replacing paper-based procedures and manual tracking with digital processes that allow real-time tracking and data updates. DEWA said this is done through automated processing and verification powered by RPA-based validation, SWIFT authentication and SAP-linked digital audit trails, and that the system earned a five-star rating at the International Best Practice Competition. [ 2 ]
Al Tayer said DEWA would keep using digital technologies and artificial intelligence to redesign operations. “We continue to leverage cutting-edge digital technologies and artificial intelligence (AI) to redesign organisational operations and enhance efficiency, supporting Dubai's vision for digital leadership while delivering faster, more resilient and proactive services,” he said, adding that DEWA is developing an AI-driven integrated operational model intended to reach what he called the highest levels of operational efficiency and sustainability, contribute to zero bureaucracy and improve customer and employee experiences. He said the system also supports the utility's expansion of Robotic Process Automation, which automates repetitive procedures and tasks. [ 2 ]
Why it matters
The announcement is a Dubai utility's account of its own back-office automation, so its significance is mostly internal: DEWA says the change shortens procedures and cuts paper use, which it links to Dubai's digital-government goals. It also illustrates how government-linked entities are presenting artificial intelligence and robotic process automation as tools for administrative efficiency, though the documents offer no independent assessment of the results.
Key facts
- DEWA said its Smart Bank Guarantee System has reduced transaction turnaround time by 95 percent. [ 1 , 2 ]
- Al Tayer said reliance on physical bank guarantees fell by 74 percent. [ 2 ]
- The system processes about 2,500 bank guarantees annually, with a total value of around Dh1 billion, according to the utility. [ 2 ]
- The system covers the full bank guarantee lifecycle, including receipt, review, updates and follow-up, and replaces paper-based procedures and manual tracking. [ 2 ]
- Verification and processing use RPA-based validation, SWIFT authentication and SAP-linked digital audit trails, DEWA said. [ 2 ]
- The system received a five-star rating at the International Best Practice Competition, according to the utility. [ 2 ]
- Al Tayer said DEWA is developing an AI-driven integrated operational model aimed at what he described as zero bureaucracy. [ 2 ]
Confirmed by several sources
Still unclear
- How the 95 percent reduction in turnaround time and the 74 percent fall in reliance on physical bank guarantees were measured, and over what period. Neither document explains the baseline or the method behind the figures; both are attributed to DEWA and its chief executive.
- The figures of about 2,500 bank guarantees a year and a total value of around Dh1 billion appear in only one document. Single-source claims: they appear in the business outlet's report of Al Tayer's remarks, and the official agency document available to us carries only a headline.
What local media are saying
Timeline, local time
- The official agency publishes the announcement that DEWA's Smart Bank Guarantee System reduced transaction turnaround time by 95 percent. [ 1 ]
- The business outlet publishes the full report, citing DEWA chief executive Saeed Mohammed Al Tayer and adding the 74 percent figure, processing volumes and system details. [ 2 ]