Mashreq Leads the Way in Smart Banking

Oct 31, 2013, 09:40 ET from Mashreq Bank

DUBAI, UAE, October 31, 2013 /PRNewswire/ --

 With the launch of the Dubai Smart City project, Mashreq sets the pace in evolving retail banking in the UAE.

With the unveiling of the E Cubed branch in the Dubai Mall, Mashreq today once again demonstrated its commitment to lead the way retail banking innovation.

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The Smart Banking initiative is all about increasing customer engagement. Making banking simple, meaningful and even enjoyable.

Mashreq believes that with the recent announcement made of the new project to transform Dubai into a Smart City, retail banking too, has to evolve with that strategic initiative. Both rely heavily on relevant technology, to enhance the customer experience.

H.E. AbdulAziz Al Ghurair, CEO formally announced the launch in the presence of Farhad Irani, Head of Retail Banking Group and the senior management of the Bank.

H.E. AbdulAziz Al Ghurair, CEO of Mashreq, commented, "Customer-centricity is most important to us and we have put it at the centre of everything we do. It's simply about offering a positive experience to customers across all touch points in all their interactions with the Bank. Is it possible to make banking more enjoyable for the customer? Yes, we think that Mashreq Smart Banking can and does. Our customers seem to think so too. Since the launch of our eCubed Retail Concept first in Dubai Internet City and then in Ibn Battuta, the branch footfall has increased by 36%."

Mashreq Smart Banking consists of the main innovation, the E Cubed Retail Branch concept which is truly changing the way our customers experience banking. Customer engagement is key and is the focal point of everything we do. We want our customers to enjoy seeking out information, receiving ideas and making the final choice personally and that is the platform we are offering. Whether customers need to borrow or save, to discuss or take action, these world class digital interfaces are integrated seamlessly into the bank's core systems. Smart Banking is the way ahead and Mashreq is delighted to lead the way in this space.

Smart Banking includes 7 elements: Mashreq GO for Instant Banking, Instant Rewards Redemption at PoS though Salaam Rewards, The Evolution of Home Delivery Payments by Payport, Flavours Mobile App, Inspiration in a Snapp Mobile Banking, Get the MAX by Mashreq Max and lastly Just Tap n GO.

Smart Banking elements:    

Mashreq Max

Mashreq Max is the first account of its kind, offering compete online banking preloaded onto a tablet, combining a number of useful functions into a simple user interface.


Snapp is Mashreq's integrated lifestyle banking app that includes geolocation of the nearest Mashreq Flavours dining offers and Salaam Points outlets in addition to its many banking functions.


Covering a huge number of outlets, Salaam Rewards enables you to redeem your points instantly at the point of sale, and now you can even book travel online with your Salaam Points.


When Mashreq opened its GO branches, it proved that it is possible to open a current account and issue cheque books, debit and credit cards in just 30 minutes.


With over 700 restaurants offering up to 25% discount, the Flavours app makes it simple to find somewhere to eat by showing you the nearest restaurant offers.


Mashreq's advanced TAP n GO technology makes it possible to make small purchase by simply waving the electronic sticker over the checkout sensor.


It used to be impossible to pay deliveries by card at your doo, but now Mashreq's user-friendly PAYPORT mobile card payment device lets you pay using any credit or debit card.

About Mashreq:

Mashreq is one of the UAE's leading National Financial institutions and the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts, it was the first to launch such products as travelers' cheques, credit cards and ATMs.

Mashreq has received numerous international awards reflecting the bank's successful record, such as the Best Credit Card and Best Debit Card by Smart Card Awards Middle East 2013, Best Retail Bank UAE Award by Global Banking & Financial Review 2013, Best Debt

House Award by EMEA Finance 2012, Best Regional Consumer Internet Bank for Online Deposit, Credit and Investment Product offerings' by Global Finance Best Internet Bank Awards 2012, Best Regional Retail Bank by The Banker ME Industry Awards 2012, Best Branch Design Award & Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund from Banker Middle East Product Awards 2012, Dubai Human Development Appreciation Award 2012 for its efforts towards the Development of the Emiratisation initiative.

As a leading financial Institution in the UAE, Mashreq aims to be world class in every facet of its business; including its social responsibility to the community it serves in. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

For further information, please contact:  

Huda Ismail                        
Public Relations, Mashreq            
Tel: +971(0)4-6083629                

Nssrin Khalil
Public Relations, Mashreq
Tel: +971(0)4-6083836

SOURCE Mashreq Bank