Mashreq Bank digitally enhanced branch/Supplied

Technology

Mashreq inaugurates its digitally-driven branch concept

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The bank will now have different types of branches consisting of full format branches, express as well as express business, express gold and smart branches.

Wednesday 03, April 2019 BY KUDAKWASHE MUZORIWA

Mashreq Bank has announced details of the next phase of its digital transformation strategy, in response to the evolving customer needs.

The lender is adopting a new branch concept that blends digital innovation with the services of a traditional branch to allow customers seamless and quick interaction.

Subroto Som, Mashreq Bank’s Executive Vice President and Head of Retail Banking Group, said, “Mashreq Bank has been making strategic investments that has revolutionised our operations and transformed us into a smart, connected and agile bank that is ready for the future.”

In a statement, Mashreq Bank said the new concept offers a whole suite of functionalities including an integrated self-service area with kiosks, ATMs as well as cash and cheque deposit machines, slim lines and bulk cash deposit and recycler.

The unveiling of Mashreq Bank’s next generation branch concept coincided with the unveiling of the lender’s first digitally-enhanced branch in Al Muraqqabat. The new branch offers convenient banking solutions allowing customers to benefit from a vast range of services in a one-stop digital environment.

The new branch model also offers interactive teller machines (ITM) and video conferencing services to allow customers to reach out to the bank beyond regular banking hours.

Retail banks in the MENA region are witnessing a significant shift in consumer habits, with customers increasingly migrating to online and mobile banking while others demand advisory services at the branch.

“By digitising our operations, we are serving customers more efficiently in the branch but also on the go, which makes their life easier,” added Aladdin Al Deesi, Mashreq Bank’s Regional Head of Distribution.

Mashreq Bank also recently announced that it will invest AED 500 million over the next five years towards digital innovation and transformation, expanding the bank’s overarching digitisation strategy.

TAGS : Mashreq Bank , Digitally-enhanced, Digital banking, Next generation banking

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