Discover How Mashreq Bank is Revolutionizing Customer Experience with Cutting-Edge Technology

Transforming Banking with a Customer-Centric Approach

Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information at Mashreq, shares insights into the bank's commitment to placing customers at the heart of its operations. Mashreq is not just about banking; it's about creating an innovative, engaging, and memorable customer journey.

A Focused Digital Transformation

Mashreq’s recent digital transformation has been profound and customer-focused. The bank is dedicated to innovating products and processes that cater to the evolving needs of clients. Significant improvements in customer satisfaction, operational efficiency, and productivity have been recorded, thanks to advanced technologies that enhance online transactions and customer engagements.

Advanced Technologies Driving Change

Mashreq is integrating Private Cloud Technology and utilizing Oracle Exadata Cloud at Customer to ensure compliance with data residency laws while enhancing operational capabilities. This technology allows Mashreq to redefine traditional banking, offering digital-first solutions like Mashreq Neo and Neo NXT, which enhance convenience and efficiency for customers.

Investment in Future Technologies

Mashreq is also investing in blockchain, artificial intelligence, and machine learning to modernize its banking systems. These technologies facilitate safe transactions, personalize customer experiences, and ensure a user-friendly mobile banking platform. The transition towards Hybrid Cloud technology is aimed at streamlining operations and maintaining agility in a fast-evolving digital landscape.

Strategic Partnership with Oracle

The partnership with Oracle focuses on modernizing core systems to provide open, modular, and scalable solutions. The decision to adopt Oracle’s Exadata Cloud at Customer was based on the need for greater scalability and efficiency, yielding a 35% lower total cost of ownership and a 30% increase in performance efficiencies.

Looking Ahead: Sustained Commitment to Innovation

Mashreq’s ongoing investment in technology will further enhance its banking services. Key areas of focus include advancements in Big Data, AI, and cybersecurity measures to protect customer data. The bank is committed to maintaining its position as a leading innovator in the banking sector, continuing to prioritize customer needs above all.