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It's not a technology store; It's your new bank
Plans to open 4 imashreq branches across the UAE during 2015
Dubai - At Mashreq innovation is built into our DNA. In 2013, we rolled-out the concept of the E Cube branch where customers could carry out their everyday banking transactions using the latest technology. Now we are building on that success with the launch of the first imashreq branch at the Deira City Centre Metro - the Region's First Fully Automated Branch.
What is 'imashreq'? The concept came from the insight that while digital has become a seamless part of our customers' lives, no bank has made digital a seamless part of their branch delivery. With most banks, branch banking is business as usual, with queues, delays and frustration. 'imashreq' sets out to change all that.
Want to open an account, make a utility payment or apply for a new credit card? You can do all that on the spot using the kind of digital devices you're already familiar with in your everyday life. Want to apply for a loan, deposit to your savings account or transfer money? Again, the services are instant and digitally-driven at your own pace. How about accessing Mashreq Securities, investing in Gold Edge or checking your Salaam rewards points? Just as quick and just as easy.
There's virtually nothing you can't do at 'imashreq' that you would normally go to a regular branch, while being as convenient and easy as on your mobile and online. With imashreq's longer opening hours, we are putting convenience and choice in your hands.
It's just another of the many ways that We Make Possible.
Farhad Irani, Head of Retail Banking Group attended the launch of the new concept and said, "Mashreq is setting the precedent for everyday banking in the Region, and is already seeing its market share increasing as a result of its innovative leadership. The key drivers behind Mashreq's innovation initiatives is 'Omni-channel convergence', and is aimed at migrating our current physical and traditional distribution channels to a resilient and robust digital business model. Consistent with Dubai's vision to transform the Emirates into the smartest City in the world, we want to play a role in achieving that. No longer intent on just providing traditional banking services and products, the bank is executing its multi distribution strategy to become the everyday bank and primary financial partner of the consumer."
Also commenting on the launch, Shaker Zainal, Mashreq's Regional Head of Distribution said: "Innovation is the centre of Mashreq's philosophy of delighting the customers. The 'imashreq' concept has been created to empower customers and assist them to carry out complex transactions at their own pace. No queues, no waiting time, just walk in and carry out quicker & smarter banking transactions or requirements. We are proud to be opening the first fully automated branch in the country. The launch of our branch in Deira City Centre Metro Station reaffirms Mashreq's commitment to extend its technology to the area, giving customers the opportunity to experience digital banking service at its best. 'imashreq' is set to transform the industry, the experience and most of the entire customer journey."
Consistent with the country's objectives to transform Dubai into the smartest city in the world, the new 'imashreq' concept branch in Deira City Centre also offers Mashreq VTM (virtual teller machine), which delivers self-service, video-enabled engagement between Mashreq customers and the bank's call center, and have access to various banking services. Powered by Avaya SmartEngage, the service will also enable Mashreq customers to apply for various bank services and products, including cheque books and bank statements, update customer records such as addresses and trade licenses, and initiate a video-chat with the Mashreq's customer agents.
Alongside this launch, Mashreq very recently announced the opening of an electronic banking service unit at Emirates Headquarters, offering a wide range of products and digital services, most importantly introducing Mashreq's automated deposit and state of the art deposit machines.
Zainal further added, "In line with the Bank's expansion strategy, the opening in Emirates Headquarters will allow our customers a wide range of services and benefit from not having to join long lines at our branches to make simple deposits. In turn, this will also help eliminate errors and increase efficiency, freeing up the time of the tellers."
With 'imashreq' and state of the art deposit machines, customers will be able to skip queues and avoid long waiting times, when making simple lodgments. This means customers can perform faster deposits and withdraw money effortlessly.
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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 travellers' cheques, credit cards and ATMs.
In 2014, Mashreq has launched a new corporate identity that builds on its history of innovation and customer service and illustrates to the wider world just how committed it is to its customers, to the continued building up of its comprehensive expertise and market knowledge, and to nurturing its absolutely top-class reputation in the industry.
The Bank has received numerous international awards reflecting the bank's successful record, such as Gallup Great Workplace Award 2014, Best Regional Retail Bank by Banker Middle East Industry Awards 2014, SME Bank of the Year by Arabian Business Startup Awards 2014, Best Islamic Window by Islamic Business & Finance Awards 2014, Best Local Bank -UAE, Best Loan House - UAE, Best Regional Investment Bank - Middle East by EMEA Finance Middle East Banking Awards 2014, Best Use of innovate Technology in the MEA Regional by MasterCard Innovation Forum 2014, Best Investment Bank - UAE, Best Commercial Bank - Qatar from World Finance Banking Awards 2014, Best Retail Bank UAE, Best Corporate Bank - Qatar, Best Customer Service Bank - Qatar by Global Banking & Finance Review Awards 2014 and the CSR Label for the fourth consecutive year by Dubai Chambers for its sustainability efforts in the community it serves.
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.
Huda Ismail
Public Relations, Mashreq
Tel: 04 -6083629
Email: HudaI@mashreq.com
Nssrin Khalil
Public Relations, Mashreq
Tel: 04 - 6083836
Email: NssrinK@mashreq.com
© Press Release 2015
