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Mashreq leads the way in smart banking

by internationalbanker

Mashreq, a leading financial institution in the UAE, has continued to set the pace of modernization in retail banking for it’s customers with the introduction of several new technologically advanced innovations. International Banker takes a look at the new banking solutions that are being rolled out to get an understanding of how their customers will benefit.

Mashreq have taken the retail banking bull by the horns, not just content with making the experience for the customer as easy as possible they wish to go further and make the process an enjoyable experience, their answer to this is the E Cube branch. The first E Cube branch was, suitably, opened in the Dubai Internet City. The innovative bank is planning to open 7 E Cube branches across the UAE by the end of 2013. The branches will have a virtual “avatar” to greet customers and an interactive touch screen tablet where they can find interest rates and details of personal, car and housing loans.


H.E. AbdulAziz Al Ghurair, CEO

At the launch, H.E. AbdulAziz Al Ghurair, CEO stated , “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’s objective is to put the customer experience first. They believe that their initiative will allow customers to enjoy personal choice in their banking solutions. Whether customers need to borrow, save, or discuss their accounts the digital high tech solution at the E Cube Retail Branch will be able to satisfy their needs.

The Smart Banking project has seven elements to it; Mashreq Go, an instant banking facility, Salaam Rewards an instant rewards redemption, via point of sale rewards, Home Delivery Payments using Payport, Flavours Mobile App, Inspiration, a Snapp mobile banking app, Get the MAX a Mashreq Max initiative and Just Tap n GO.

Mashreq GO

At Mashreq’s GO banking branches customers can open an account in thirty minutes. It will open the account, issue chequebooks and supply debit and credit cards within this time frame.

Salaam Rewards

The Salaam rewards scheme allows customers to redeem points at a large number of outlets at the point of sale. It also enables you to book your travel online with the Salaam points.


The Mashreq’s mobile card payment facility allows you to pay for deliveries to your home by a PAYPORT mobile card payment device using any credit or debit card.

Flavours Mobile App

Mashreq has set up a partnering agreement with over 700 restaurants who offer a 25% discount. Clients can use the app to find participating restaurants and their offers.

Snapp Mobile

This app is called the lifestyle banking app by Mashreq. It offers a geographic location of the nearest Mashreq Flavours dining locations and Salaam Points sites plus many banking options.

Mashreq Max

Mashreq Max is the first account to offer a complete pre-loaded online banking facility. Loaded onto a tablet is has many useful functions with a simple user interface.


With the bank’s latest technology the client can make small purchases via an electronic sensor that allows you to just wave an electronic sticker over it.

The head of Mashreq Retail Banking Group, Farhad Irani, said “We asked ourselves, what do our consumers really want from the technology out there? The simple answer is, they want technology that improves that quality of their banking interactions. It is not about replacing staff with machines. It’s about using machine to help customers and staff engage more deeply. Mashreq’s E Cube Retail Concept offers more than just banking, it is our way to make our customers evolve, engage and most of all experience banking at its best.” Irani also added, “Today is another innovation we present to our customers and the industry, which we believe will lead the way forward. Customer engagement is the core of our brand proposition.”

Mashreq is the second oldest bank in the UAE. Originally called the Bank of Oman, Mashreq has consistently been a leader in retail banking in the UAE, being the first bank to issue traveller’s cheques and install ATMs. With the new innovations they have implemented, Mashreq is once again setting the standard for retail banking in the region.


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