Mashreq bank, which provides a wide range of banking services in UAE, is planning to make these services available online henceforth. No customer needs to go to the bank, he/she can avail the Mashreq bank services digitally.
Mashreq bank is the most established private bank in UAE, providing financial services for more than five decades. Since the beginning, it is well known for providing some development technological side. It is the bank to introduce ATM cash dispensary, credit cards, debit cards to the citizens of UAE.
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Now again Mashreq bank is moving ahead by providing banking and financial services online. It is planning to cut down half of the branches in UAE. Currently, there are 44 branches in and around UAE with more than 4000 employees, apart from the overseas branches. This new way of banking is called as Mashreq Neo. Over the next three years, Mashreq Neo would have been evolved completely and the number of branches would be reduced to its half. Even though this might affect the current employees of Mashreq bank and Mashreq is planning to hire new employees who are good with the new technology and digital marketing.
This initiative has been taken by keeping the future standards in mind i.e currently, 70% of people in the UAE are smartphone users. In future, this might increase and most of them would prefer an easy way of banking rather than visiting a bank for each and every purpose. Mashreq Neo is the not the only bank which has taken this initiative. Banks like Emirates NBD and Commercial Bank of Dubai have already been into this digital banking platform. But Neo has added few extra features.
What is Mashreq Neo?
Mashreq Neo will be a new type of account for the smartphone users where one can access their accounts using their phone, laptop, etc any supported device. This won’t be just an account to check your account details it would let you access your credit cards, debit cards, personal loan accounts, global stock trading, foreign currency, gold trading and much more.
And the best part of Mashreq Neo is a customer can open an account by downloading Mashreq Neo app which would be available on Appstore or Playstore and scan Emirates ID. This would take hardly 5 minutes which means you need not go to the branch and stand in queue for hours together at times to open a bank account. Apart from this, Neo customers would be eligible to shop globally from shopping portals.
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So the citizens in UAE would be experiencing new innovations in the field of banking. Over the coming years, there would be more innovations by making things easier for the customers. And UAE citizens always welcome these innovations so there are higher chances of people adapting to Neo.