Mashreq Bank may not be the Middle East’s largest lender, but it is the region’s most digitally innovative and influential financial institution. Its digital journey was already well advanced when Ahmed Abdelaal was named chief executive in late 2019, but since then innovation has gone into overdrive.
The launch of its full-service digital bank Neo was a seminal moment. In November 2021, the bank got on board with facial recognition, allowing new Neo customers to access banking services by scanning their ID and using their face as the passport. A biometric service for corporate customers will be unveiled in the coming months.
Two months earlier, Mashreq launched a new supply-chain finance platform. Part of Titan, a digital corporate banking platform, it lets business clients onboard their entire vendor base.
“Our continued key partnerships and collaborations across the sector, combined with our passion for innovation, are shaping the future of financial services through convenience, innovation and trust, while delivering a seamless experience to our customers,” says group head of corporate and investment banking, Joel Van Dusen.
More