LONDON, Feb. 19, 2018 (GLOBE NEWSWIRE) -- With more than 50 years of experience, Mashreq Bank has witnessed plenty of changes take place within the banking sector. By taking a receptive and proactive approach to innovation, the bank has been able to withstand these changes and cement itself as one of the leading financial institutions in the United Arab Emirates (UAE).

In recognition of the bank’s commitment to new technologies, Mashreq Bank has been awarded World Finance’s Best Digital Bank Award (UAE) for 2017. The award comes after the bank launched Mashreq Neo, a new full-service digital-only bank, which recognises that consumer tastes and behaviours are changing fast.

“Mashreq Neo is a retail bank targeted at this connected generation,” explains Subroto Som, Head of Retail Banking Group at Mashreq Bank. “It offers you the flexibility of multi-currency accounts. It facilitates payments through wallets, [and] it also connects you to 30 stock exchanges of the world, to buy and sell stocks.”

2017 was certainly a year to remember for the bank, with Mashreq also awarded World Finance’s Best Mobile Banking App (UAE), for its application Snapp. Through Snapp, customers can transfer money securely to other mobile numbers, manage their accounts and enjoy cardless cash withdrawal.

The introduction of digital and mobile banking options has been well received by consumers, but Mashreq Bank understands that it cannot afford to rest on its laurels. The banking industry in the UAE is extremely competitive and Mashreq is keen to stay on top throughout 2018 and beyond.

“We have always been innovating,” Som said. “It's a journey with the consumer. Many of the things that are happening are new; it's a path that we are confident of, and we have been on this journey for quite some time.”

For more about Mashreq Bank and its innovative approach to financial services, check out an exclusive article by Head of Retail Banking, Subroto Som, in the latest edition of World Finance, available in print, on tablet and online now.

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World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162